Tivan Limited - Quarterly Activities Report - June 2024
TVN (TVN) Share Update July 2024 Thursday 25th
Tivan Limited Announces Strategic Developments and Resource Updates
Tivan Limited has released its quarterly activities report for June 2024, highlighting significant strategic alliances, resource updates, and exploration results.
Instant Summary:
- Strategic Alliance Agreement signed with Sumitomo Corporation for the Speewah Fluorite Project.
- Updated JORC compliant Mineral Resource estimate for the Speewah Fluorite Project.
- High-grade silver discovery at the Sandover Project.
- Memorandum of Understanding with Pacific Hydro for renewable energy supply.
- Completion of TIVAN+ critical minerals processing technology testwork.
Strategic Alliance with Sumitomo Corporation
In a major development, Tivan Limited has signed a Strategic Alliance Agreement with Sumitomo Corporation, a Fortune Global 500 company. This agreement lays the groundwork for a binding joint venture to develop, finance, and operate the Speewah Fluorite Project. Sumitomo will be the sole distributor for Speewah's fluorspar products in Asia, with specific allocations for Japanese customers.
Updated Mineral Resource Estimate
The Speewah Fluorite Project now boasts a JORC compliant Indicated and Inferred Resource of 37.3 million tonnes at 9.1% CaF2, including a high-grade component of 8.6 million tonnes at 22.8% CaF2. This update represents a significant increase in both tonnage and grade compared to previous estimates, positioning Speewah as one of the largest high-grade fluorite resources globally.
Exploration Success at Sandover Project
High-grade silver has been discovered at the Sandover Project, with assays up to 469 g/t Ag. This discovery, located at Aileron Station, highlights the potential for a polymetallic mineral deposit in the area. Further soil and rock chip assays have extended the mineralisation footprint, indicating a larger than previously thought geochemical anomaly.
Renewable Energy Collaboration
Tivan has signed an MoU with Pacific Hydro to explore renewable energy supply options for the Speewah Fluorite Project. The initial focus will be on evaluating energy supply from the Ord River Hydro Power Plant. This collaboration aligns with Tivan's strategy to optimise renewable electricity supply as part of its energy mix.
TIVAN+ Technology Testwork
The development testwork program for the TIVAN+ critical minerals processing technology has been completed, confirming the technical viability of processing vanadium titanomagnetite concentrate from Speewah. The results highlight the potential of the TIVAN+ technology to produce high-quality feedstock for direct reduced iron (DRI) processes.
The strategic alliance with Sumitomo Corporation is expected to provide a stable and long-term supply chain for high-grade fluorite, which could positively impact Tivan's stock. The updated resource estimates and successful testwork for TIVAN+ technology also bolster investor confidence in Tivan's projects. However, the broader market conditions and cap rate expansions could temper some of these positive impacts.
Investor Reaction:
Analysts have reacted positively to the strategic alliance with Sumitomo, noting its potential to secure a significant market for Speewah's fluorspar products. The updated resource estimates and high-grade silver discovery have also been well-received, with investors showing increased interest in Tivan's exploration prospects.
Conclusion:
Investors should keep an eye on Tivan's ongoing developments and strategic initiatives. The company's ability to secure strategic partnerships and update resource estimates positions it well for future growth. Subscribing to updates and monitoring market reactions will be crucial for making informed investment decisions.