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Todd River will emerge with ownership of TNG's Manbarrum zinc project in the NT.

TNG spin-out raises $6m

TNG spin-out Todd River Resources has raised $6 million from its initial public offering ahead of its ASX debut, which could occur before the end of the month.

Todd River raised the funds through the issue of 30 million shares at 20 cents each, with the IPO managed by Sanlam Private Wealth.

Todd River will take ownership of TNG’s non-core assets, including 12 exploration projects in the Northern Territory that comprise the Manbarrum zinc project.

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TNG (TNG)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/05/17

1 year TSR5 year TSR
34thAnglo Australian Resources297%-7%
131stAfrican Energy Resources79%-16%
371stTNG8%16%
377thAustralian Mines6%-1%
715thAlloy Resources-55%-15%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

07/02/17
$0 Issued
06/02/17
$0 Issued
30/12/16
$5k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

344th↓TNG$6k
381st↑Australian Mines$230
382nd↑African Energy Resources$0
384th↓Alloy Resources$0
385th↑Anglo Australian Resources$0
495 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from TNG

103rdPaul Burton$818k
757thScott Rauschenberger$204k
626thRex Turkington$177k
Ranked by total remuneration from all listed WA companies

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