TIVAN LIMITED — Capital/Financing Update 2007

Jun 27, 2007

ASX PERTH

NO.606 P.1⁄1

No:

AUSTRALIA

ASX Circular

Data: 28 June 2007

• Key topics
• 1. TNG Limited
• 1. ASX Code: TNG 3. Reorganisation of Capital
• 1. Return of Capital
• 5, In specie Distribution

Reading List

Banks Client Advisers Compliance Managers Corporate Advisory DTR Operators Issuers Institutions ASTC Participants Operations Managers (back office) Share Registries ACH Participants Market Participants

Contact

Nicholas Ong

Talephone

(08) 9224 0000

ASX Limited ABN 98 008 624 691 Level 8, Exchange Plaza 2 The Esplanade Perth WA 5000

GPO BOX 0187 Perth WA 6840

Internet: http://www.asx.com.au

No responsibility is accepted for any inaccuracias contained in the matter published,

hm2007.01.24.bc-emh

TNG LIMITED - REORGANISATION OF CAPITAL

Participating Organisations are advised that the return of capital in TNG Limited (the "Company") will become effective on Friday 29 June 2007.

The return of capital is by way of an in specie distribution of shares in Batavia Mining Limited ("Batavia"), shares in Thor Mining PLC ("Thor") and warrants in Thor.

Shareholders will receive 1 Batavia fully paid ordinary share for every 12 ordinary fully paid shares held in the Company.

Shareholders will receive 1 Thor fully paid ordinary share for every 13 ordinary fully paid shares held in the Company.

Shareholders will receive 1 Thor warrants for every 25 ordinary fully paid shares held in the Company.

Fractions will be disregarded.

The following timetable will apply.

17 May 2007	Shareholder Approval
29 June 2007	Trading in securities commences on an "ex return of capital ® basis. ASX Code: TNG
5 July 2007	Record date for identifying shareholders entitled to participate in the return of capital
To be advised	Despatch date