Slide 1: Capital Raising Presentation
Capital Raising Presentation 3 July 2024
Slide 2: Important Notices and Disclaimer
2 Important Notices and Disclaimer IMPORTANT: You must read the following before continuing This investor presentation (Presentation) is dated 3 July 2024 and has been prepared by Tivan Limited (ABN 12 000 817 023) (Tivan or the Company). This Presentation has been prepared in relation to the Compan
Slide 3: Not an offer
3 Not an offer This Presentation is not a prospectus, product disclosure statement or other disclosure document under the Corporations Act, or other offering document under Australian law or any other law. This Presentation, and the information contained in it, is provided for information purposes o
Slide 4: JORC Code
4 JORC Code It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code). Investors outside Australia should note tha
Slide 5: Mineral Resources
Mineral Resources This Presentation contains estimates of the Company’s Mineral Resources for the Speewah Project. 5 The information in this Presentation that relates to the Mineral Resources (vanadium) has been extracted from the Company’s p revious ASX announcements, including the following: 1. TV
Slide 6: Capital Raising Overview
6 Capital Raising Overview • Non-underwritten placement of New Shares to sophisticated and professional investors to raise approximately A$4.5 million (before costs) Placement Structure and • The Placement will take place in a single tranche and will utilise the Company’s placement capacity pursuant
Slide 7: Intended Use of Funds
7 Intended Use of Funds Capital raising proceeds are intended to be used primarily to fund the following: 1 Intended use of funds 1 A$m Speewah Fluorite Project 1.7 • Development works for the Speewah Fluorite Project • Exploration at Sandover Project, inclusive of proposed drilling campaign at Sand
Slide 8: Pro Forma Capital Structure
Pro Forma Capital Structure 8 Capital Structure Shares Listed Options Unlisted Options Existing securities on issue 1 1,645,949,026 76,611,336 94,354,817 New securities issued under the Placement 2 69,230,769 - 34,615,385 Pro forma securities on issue 1,715,179,795 76,611,336 128,970,202 1. Options
Slide 9: Capital Raising Timetable
Capital Raising Timetable 9 Event1 Date Announcement of Placement Wednesday 3 July 2024 Lodgement of Appendix 3B with ASX (Shares and Placement Options) Settlement and issue of Shares under the Placement Monday 8 July 2024 Lodgement of Appendix 2A with ASX for Shares Lodgement of prospectus 2 with A
Slide 10: Investor Materials
10 Investor Materials 3 July 2024
Slide 11: On track to deliver Australia's first commercial production of Fluorite in Q1 2027
Tivan: On track to deliver Australia's first commercial production of Fluorite 11 in Q1 2027 in Joint Venture with Sumitomo Corporation Five Rivers Lookout & Port of Wyndham, Western Australia
Slide 12: Strategic Alliance with Sumitomo Corporation
12 Tivan: Strategic Alliance with Sumitomo Corporation • Landmark agreement, announced 7 June, to proceed to Joint Venture for the Speewah Fluorite Project in 2024 • Sumitomo Corporation: o Fortune Global 500 Company o Big 5 sōgō shōsha o Part of Sumitomo Group o 400 year business philosophy • Activ
Slide 13: Rapidly progressing three critical minerals projects through different phases
13 Tivan: Rapidly progressing three critical minerals projects through different phases Sandover Project • Industry leading Artificial Intelligence exploration project with EARTH AI, across 8,000 sq km of contiguous, highly prospective tenements in central Australia • Rare high-grade discovery of po
Slide 14: Speewah Fluorite Project
tivan Speewah Fluorite Project
Slide 15: Fluorite: A compelling & unique opportunity
15 Fluorite: A compelling & unique opportunity • Fluorine was included on Australia's Critical Mineral List in December 2023 • Speewah hosts Australia's sole high-grade Fluorite resource (Mineral Resource estimate reported in accordance with JORC, see ASX announcement of 22 April 2024) • Tier 1 glob
Slide 16: Historical Timeline – Speewah
16 Tivan: Historical Timeline – Speewah Figure 3: Tivan acquired Speewah from King River Resources in February 2023
Slide 17: World Class Deposit – Mineral Resource Estimate
17 Tivan: World Class Deposit – Mineral Resource Estimate Mineral Resource Estimate completed by SRK in April 2024: ASX announcement 1. Comprehensive upgrade of resource model 2. Increase of high-grade tonnage from 6.7mt to 8.6mt 3. Basis for further resource expansion established Speewah confirmed
Slide 18: Project schedule to DFS
18 Tivan: Project schedule to DFS • Project advancing rapidly across multiple workstreams. • Approximately 600 tasks on Gantt chart, coordinated by Tivan's Project Team, supported by Lycopodium & SRK. • PFS scheduled for second half of July. • DFS scheduled for end Q3 2025. No FEED required. • First
Slide 19: Tier 1 critical mineral resources, side by side: Fluorite & VTM
19 Tivan: Tier 1 critical mineral resources, side by side: Fluorite & VTM Map showing adjacent deposits within Speewah tenements, accessibility via historical track routes, proximity to Doon Doon Station (in green) and the Great Northern Highway. Located on Mining Leases granted in 1989: (M80/267, M
Slide 20: Pathway to Fluorite resource expansion
20 Tivan: Pathway to Fluorite resource expansion • Multi-year pathway to resource expansion, commencing with Exploration Target announced in May 2024 (+1.9-3.9mt high grade). Greater than 30km of unexplored greenfield strike independently identified by SRK: ASX announcement • PFS to be based on JORC
Slide 21: Fluorite flowsheet – low capital requirements
21 Tivan: Fluorite flowsheet – low capital requirements A simple flowsheet using physical separation. Dig crush grind float ship Low technical risk, due to simplicity of flowsheet and extensive testwork programs that have achieved high recovery rates and the Acid-grade Fluorspar specifications. Low
Slide 22: Visualising the Speewah Fluorite Project: 3D Model
22 Tivan: Visualising the Speewah Fluorite Project: 3D Model Tivan and Lycopodium completed PFS Engineering Design Review in May 2024 – a major PFS Engineering milestone. Figure 9: Front gate view of Process Plant with Fluorite Resource outcrop in background. Source: Lycopodium PFS Engineering Desig
Slide 23: Integrating Hydro
23 Tivan: Integrating Hydro • Tivan's plans to integrate Ord River Hydro to Speewah's power supply were announced in early May, supported by MoU with Pacific Hydro and feasibility study with Horizon Power. • The Speewah Fluorite Project is ideally placed to reuse existing transmission infrastructure
Slide 24: Targeting environmental approvals in 2025
24 Tivan: Targeting environmental approvals in 2025 Figure 11: Approval flowchart, with a target completion of Q2 2025 for the Speewah Fluorite Project. Tivan commenced baseline surveys in July 2023.
Slide 25: Traditional Owners inclusion
25 Tivan: Traditional Owners inclusion Tivan is committed to developing innovative pathways that facilitate genuine inclusion and participation of Traditional Owners and Native Title Holders Further information can be found in Tivan's submission to the Critical Minerals Strategy reset in early 2023,
Slide 26: China now the world's largest importer of Fluorspar
26 Tivan: China now the world's largest importer of Fluorspar • China produces and consumes 2/3 of global Fluorspar, a vital feedstock for semiconductors & EV batteries, each geo-strategically relevant sectors. • China is rapidly depleting reserves, driving a trend shift to net importer status, the
Slide 27: China continues to deplete Fluorspar reserves rapidly
27 Tivan: China continues to deplete Fluorspar reserves rapidly China dominates current production & consumption of Fluorspar (60%), yet on current trends will entirely deplete reserves by 2030. This is a critical vulnerability to China's leadership of the EV sector and provides upside risk to Fluor
Slide 28: Acid grade Fluorspar is moving into structural deficit from 2025
28 Tivan: Acid grade Fluorspar is moving into structural deficit from 2025 ~US$3bn market Industry analysts are forecasting a structural deficit to emerge from 2025, driven by demand for Acid grade Fluorspar from semiconductor manufacturing & the 'Battery-F' EV value chain, coupled with rapid global
Slide 29: Fluorspar prices are trending higher with low volatility
29 Tivan: Fluorspar prices are trending higher with low volatility • Fluorspar prices are trending higher across all product segments and geographical regions. • Fluorspar from Mexico trades at a discount due to high arsenic content. • Fluorspar prices have exhibited low realised volatility (~15% an
Slide 30: Sandover Project
tivan Sandover Project 30
Slide 31: Sandover Project - an industry leading collaboration
31 Tivan: Sandover Project - an industry leading collaboration Exploration Alliance with EARTH AI Industry leading AI-driven exploration in central Australia • Commenced Q1 2023 • Maximises alignment with critical minerals secular thematic • Use of cutting-edge AI technology to maximise success rate
Slide 32: Rare High-Grade Lead-Silver Surface Mineralisation Discovery
32 Tivan: Rare High-Grade Lead-Silver Surface Mineralisation Discovery Discovery: Surface rock sample mineralisation of Lead at 12.2% grade, Silver at 469ppm, confirmed by assay Announced: March/April 2024 Details: • Rare high-grade base metal surface discovery. Prominent indications of hydrothermal
Slide 33: Speewah Vanadium Titanomagnetite Project / TIVAN+
33 Speewah Vanadium Titanomagnetite Project / TIVAN+
Slide 34: Tivan is building sovereign capabilities in long duration energy storage
34 Tivan Life Cycle Tivan is building sovereign capabilities in long duration energy storage across northern Australia. Figure 19: Tivan life cycle – circularity is integral to sustainability
Slide 35: Superior VTM resource & development pathway
35 Tivan: Superior VTM resource & development pathway Background Tivan acquired Speewah in Q1 2023 following an extensive review of global VTM resources. Tivan regards Speewah as the world's premier VTM resource. Development Pathway Tivan has pursued two development pathways: traditional Salt Roast
Slide 36: Major proponent at MASDP
36 Tivan: Major proponent at MASDP Background Tivan was awarded a 'Do Not Deal' commitment from NT Government at the Middle Arm Sustainability Development Precinct (MASDP) in Q1 2023. Development Pathway Tivan has progressed scoping studies for the TIVAN+ critical minerals processing facility at MAS
Slide 37: Strategic R&D Partnership with CSIRO on TIVAN+ Technology
37 Tivan: Strategic R&D Partnership with CSIRO on TIVAN+ Technology Background Tivan & CSIRO agreed a long-term strategic partnership to develop and commercialise the TIVAN+ technology in November 2023. TIVAN+ aims to produce three commercial grade products in Vanadium, Titanium and Iron from VTM re
Slide 38: Strategic R&D Partnership with Sumitomo Electric Industries
38 Tivan: Strategic R&D Partnership with Sumitomo Electric Industries Background Tivan is working in strategic partnership with Sumitomo Electric Industries (SEI) to develop the VFRB value chain at scale. SEI, based in Osaka, is the leading manufacturer of VRFB outside of China. Testwork Program Com
Slide 39: Speewah VTM Development Pathways
39 Tivan: Speewah VTM Development Pathways Background Tivan has pursued concurrent development pathways for Speewah VTM since its acquisition in Q1 2023. Technology Review Tivan has scheduled a technology review for Q3 2024, that will holistically compare the pros/cons of Salt Roast and TIVAN+. The
Slide 40: Appendix 1: Hard Rock Vanadium Peer Comparison
40 Tivan: Appendix 1: Hard Rock Vanadium Peer Comparison For live links: Read here ASX Announcement dated 20th February 2023
Slide 41: Company Overview
tivan Company Overview 41
Slide 42: Organisation chart
42 Figure 25: Organisation chart
Slide 43: Board of Directors
Tivan: Board of Directors Grant Wilson Executive Chair Grant led the nationally prominent campaign ‘to change management at Tivan through the second half of 2022. His 25-year career includes extensive experience in global finance, law, media, technology and government. He previously held senior role
Slide 44: Technical Advisory Group
44 Tivan: Technical Advisory Group
Slide 45: Partners
45 Tivan: Partners Figure 26: Tivan's partners *new era
Slide 46: Corporate Overview; Trend improvement in secondary market liquidity in 2024
46 Tivan: Corporate Overview; Trend improvement in secondary market liquidity in 2024 Capital Structure* Ordinary shares on issue 1,645,949,026 Shareholders 5,930 Share price (28 June 2024) $0.073 Market cap (undiluted) $120.2m *Excludes listed options, unlisted options & unlisted convertible notes
Slide 47: Disclaimers
47 Disclaimers Reliance and Forward Looking Statements In all cases, this presentation is provided on the basis that the recipient will conduct their own investigation and analysis of the information set forth in this presentation independently and without reliance on Tivan Limited or any of its res
Slide 48: Competent Person's Statement
48 Competent Person’s Statement Exploration Results Tivan’s exploration activities are being overseen by Mr Stephen Walsh (BSc). The information that relates to exploration results in t his presentation is based on and fairly represents information and supporting documentation prepared and compiled
Slide 49: Competent Person's Statement Cont'd
49 Competent Person’s Statement Cont'd Speewah Vanadium Mineral Resource The information in this presentation related to the Speewah Vanadium Mineral Resource estimate is extracted from an ASX announcement of King River Resources Limited (ASX: KRR) entitled “Vanadium Resource Amendment” dated 1 Apri
Slide 50: Key Risks
50 Key Risks There are various risks associated with an investment in New Shares, New Options or the Company generally, as with any securities market investment. This section summarises the following key risks specific to the Equity Raising and an investment in securities in the Company (including t
Slide 51: Exploration and development risks
Exploration and development risks The business of mineral project exploration, development and production, by its nature, contains elements of significant risk with no guarantee of success. The Company’s flagship asset, the 51 Speewah Project, is still at the stage of development planning and there
Slide 52: Metallurgical and geotechnical risks
Metallurgical and geotechnical risks 52 The economic viability of mineral recovery depends on a number of factors such as the development of an economic process route for production of concentrates and final products. Further, changes in mineralogy throughout an ore body may result in inconsistent m
Slide 53: Commodity price risk and exchange rate risk (continued)
53 Commodity price risk and exchange rate risk (continued) In particular, the Company’s profitability ultimately will depend upon the world market prices of vanadium, fluorite, titanium dioxide and iron products. If the market prices for such products fall below the Company’s production costs and re
Slide 54: Environmental liabilities risk
54 Environmental liabilities risk The Company’s activities are subject to potential risks and liabilities associated with the potential pollution of the environment and the necessary disposal of mining waste products resulting from mineral exploration and production. Insurance against environmental
Slide 55: Reliance on key personnel
55 Reliance on key personnel The Company’s prospects depend in part on the ability of its executive officers, senior management and key consultants to operate effectively, both independently and as a group. The loss of the services of one or more of such key management personnel could have a materia
Slide 56: Securities price fluctuation
56 Securities price fluctuation The market price of a publicly traded stock is affected by many variables not directly related to the success of the Company. In recent years, the securities markets have experienced a high level of price and volume volatility, and the market price of securities of ma
Slide 57: International Offer Restrictions
57 International Offer Restrictions This document does not constitute an offer of New Shares under the Company’s Placement in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any count
Slide 58: New Zealand
58 New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (New Zealand) (the FMC Act). The New Shares are not being offered or sold in New Zealand (or allotted with a view to being offered for sal
Slide 59: Tivan Critical Minerals Company contact details
of tivan 2 critical minerals company Registered Office Level 1, 16 Bennett Street Darwin NT 0800 Australia Contact +618 9327 0900 engagement@tivan.com.au tivan Limited ABN 12 000 817 023 ASX Code: TVN tivan.com.au