Tivan's Technology Review for Speewah Vanadium Project - September 2024
TVN (TVN) Share Update September 2024 Thursday 26th
Tivan Completes Technology Review for Speewah Vanadium Project
Tivan Limited (ASX: TVN) has completed a comprehensive technology review for the development of the Speewah Vanadium Titanomagnetite Project in Western Australia, evaluating both TIVAN+ processing technology and conventional salt roast technology.
Instant Summary:
- Tivan reviews TIVAN+ and salt roast technologies for Speewah Vanadium Project.
- Both technologies show excellent bench-scale test results.
- Salt roast testwork aims to produce vanadium electrolyte for Vanadium Redox Flow Batteries.
- Tivan advances negotiations for a TIVAN+ Pilot Plant with government support.
- Further updates on technology pathways expected in Q4 2024.
Technology Pathway Review
Tivan Limited has been evaluating two processing technologies for its Speewah Vanadium Titanomagnetite Project in Western Australia: the TIVAN+ processing technology developed in partnership with CSIRO, and a conventional salt roast technology. Both technologies have demonstrated excellent results at the bench-scale level, confirming the feasibility of processing Speewah concentrate.
The review supports the continuation of salt roast testwork, aiming to produce vanadium electrolyte to meet specifications for Vanadium Redox Flow Batteries. Additionally, Tivan is assessing third-party interest in the commercial development of the TIVAN+ technology.
TIVAN+ Technology
Since November 2023, Tivan has been working with CSIRO under a Technology Licence Agreement (TLA) and a Research Services Agreement (RSA) to develop the TIVAN+ technology. This technology is designed to recover vanadium, titanium, and iron from VTM concentrate. The TLA grants Tivan an exclusive 20-year worldwide licence (excluding India) to use CSIRO's intellectual property, patents, and know-how for vanadium recovery.
Testwork outcomes for TIVAN+ have shown near-quantitative recovery of iron, high vanadium extraction rates, and significant potential for producing high-purity vanadium and direct reduced iron (DRI). The results support the applicability of the technology to other VTM deposits.
Salt Roast Technology
The salt roast technology has also shown promising results, with vanadium extractions up to 98.3%. This method offers a shorter time to production and revenue. The salt roast testwork aims to achieve high-purity vanadium electrolyte specifications provided by Sumitomo Electric Industries, supporting Tivan's planned Vanadium Electrolyte Facility near Darwin.
Key highlights of the salt roast testwork include high vanadium extraction rates, repeatability of results, and opportunities for cost reduction. The Speewah ore has shown high amenability to salt roasting, making it a viable option for further development.
The completion of the technology review and the positive testwork results for both TIVAN+ and salt roast technologies are likely to boost investor confidence in Tivan's ability to develop the Speewah Vanadium Project. The potential for producing high-purity vanadium and the ongoing negotiations for a TIVAN+ Pilot Plant could positively impact the company's stock price.
Investor Reaction:
Analysts are expected to react positively to the news, given the excellent testwork results and the strategic partnership with CSIRO. The potential for third-party interest in the TIVAN+ technology and the advancements in salt roast testwork are likely to be viewed as significant milestones for Tivan.
Conclusion:
Investors should keep an eye on further updates from Tivan in Q4 2024, as the company progresses with its technology pathways and strategic planning. The successful development of either technology could position Tivan as a leader in vanadium processing technology.