Tivan Limited · ASX:TVN
Tivan — Investor Presentation (February 2025)
64 slides from Tivan's investor presentation, Feb 13, 2025
Slide 1: Tivan, 13 February 2025
For personal use only tivan 13 February 2025
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer IMPORTANT: You must read the following before continuing For personal use only This investor presentation (Presentation) is dated 13 February 2025 and has been prepared by Tivan Limited (ABN 12 000 817 023) (Tivan or the Company). This Presentation has been prepared
Slide 3: Not an offer
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 onl
Slide 4: JORC Code
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 that
Slide 5: No liability
No liability The information contained in this Presentation has been prepared in good faith by the Company. Neither the Lead Manager, nor any of their or the Company’s respective affiliates, related bodies corporate, directors, officers, partners, advisers, employees and agents (each a Party and tog
Slide 6: Capital Raising Overview
Capital Raising Overview • Non-underwritten placement of New Shares to sophisticated and professional investors to raise A$9 million (before costs) Placement Structure For personal use only • The Placement will take place in a single tranche and will utilise the Company’s placement capacity pursuant
Slide 7: Intended Use of Funds
Intended Use of Funds Capital raising proceeds are intended to be used primarily to fund the following 1: Intended use of funds A$m For personal use only Speewah Fluorite Project – Pathway to FID A – • Resource definition works for the Sandover Fluorite Project • Contingency for pre-FID funding for
Slide 8: Pro Forma Capital Structure
Pro Forma Capital Structure Unlisted Capital Structure Shares Listed Options 1 Unlisted Options 1 Performance Rights 2 For personal use only Existing securities on issue 1,921,984,630 190,176,387 76,999,993 30,500,000 New securities issued under the Placement 3 85,714,286 42,857,148 - - Pro forma se
Slide 9: Capital Raising Timetable
Capital Raising Timetable Key Events 1 Date For personal use only Announcement of Placement Thursday 13 February 2025 Lodgement of Appendix 3B with ASX (Shares and New Options) Settlement and issue of Shares under the Placement Wednesday 19 February 2025 Lodgement of Appendix 2A with ASX for Shares
Slide 10: Tivan
For personal use only tivan 13 February 2025
Slide 11: Tivan's tenements, resources and projects
For personal use only Figure 1: Tivan's tenements, resources and projects 11
Slide 12: Tivan's comparative advantages
For personal use only To build a company of strategic importance, Tivan believes that comparative advantages are required. Tivan introduced eight, self-reinforcing comparative advantages at the 2024 AGM. These comparative advantages underpin the rapid progress Tivan has achieved as a turnaround stor
Slide 13: Rapidly progressing critical minerals projects
Tivan: Rapidly progressing critical minerals projects • Within 2 years Tivan has assembled and advanced a For personal use only portfolio of highly prospective critical minerals projects across northern Australia. • Through diversification across projects, Tivan aims to flatten out the Lassonde curv
Slide 14: Ideally placed to secure long-term supply of Fluorite for Asia
Tivan: Ideally placed to secure long-term supply of Fluorite for Asia For personal use only • Tivan has secured 100% ownership of all Australia's known high-grade Fluorite deposits, at Speewah and Sandover, a singular achievement in the critical minerals sector. • A significant global demand / suppl
Slide 15: Speewah Fluorite Project
For personal use only Five Rivers Lookout & Port of Wyndham, Western Australia 15
Slide 16: For personal use only
For personal use only 16
Slide 17: Speewah Fluorite Project key points
For personal use only • Fluorine was included on Australia's Critical Mineral List in December 2023 • Tivan acquired the Speewah Fluorite Project in February 2023 & the Sandover Fluorite Project in November 2024 • Speewah hosts Australia's sole JORC compliant high-grade Fluorite resource • Tivan del
Slide 18: Landmark Joint Venture with Sumitomo Corporation
Tivan: Landmark Joint Venture with Sumitomo Corporation for Speewah Fluorite Project For personal use only • Tivan and Sumitomo announced terms of proposed JV on 24 December 2024: o TVN 77.5%, SC 22.5% o Total investment by SC of $60m over stage-gates o 100% offtake o TVN management fee o Completion
Slide 19: Strong Federal government support
Tivan: Strong Federal government support On 6 December 2024 Tivan announced the award of a $7.4m grant under For personal use only the International Partnerships in Critical Minerals program. ASX announcement On 9 December 2024 Tivan announced the Speewah Fluorite Project had been awarded Major Proj
Slide 20: Mineral Resource Estimate
Tivan: Mineral Resource Estimate Mineral Resource Estimate completed by SRK in April 2024: For personal use only ASX announcement 1. Comprehensive upgrade of resource model 2. Increase of high-grade tonnage from 6.7mt to 8.6mt 3. Basis for further resource expansion established Speewah confirmed as
Slide 21: Financial Metrics & Path to Free Cashflow
Tivan: Financial Metrics & Path to Free Cashflow Key Financial Metrics Project free cashflow (ungeared, A$) For personal use only Figure 9: Output from financial model. Source: Tivan Tivan's Pre-Feasibility Study confirmed outstanding project fundamentals, including low capital costs, high operating
Slide 22: Speewah is set to emerge as a world-class Fluorite resource
Tivan: Speewah is set to emerge as a world-class Fluorite resource Global Fluorspar Peer Resource Comparison For personal use only Speewah is uniquely positioned as a large, high-grade Fluorite resource, located in a Western bloc country in Asia. Unlike other major JORC compliant resources, Speewah
Slide 23: Pathway to Fluorite resource expansion
Tivan: Pathway to Fluorite resource expansion For personal use only • Tivan has defined a multi-year pathway to resource expansion at Speewah, commencing with Exploration Target announced in May 2024 (1.9-3.9mt of high grade materials between 16% CaF2 and 26% CaF2). Greater than 30km of unexplored g
Slide 24: Schedule to Definitive Feasibility Study
Tivan: Schedule to Definitive Feasibility Study For personal use only • Project advancing rapidly across multiple workstreams. • Approximately 600 tasks on Gantt chart, coordinated by Tivan's Project Team, supported by Lycopodium & SRK. • DFS scheduled for end Q3 2025. No FEED required. • First prod
Slide 25: Fluorite flowsheet – low capital requirements
Tivan: Fluorite flowsheet – low capital requirements Fluorite production involves a simple flowsheet using For personal use only 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
Slide 26: Visualising the Speewah Fluorite Project: 3D Model
Tivan: Visualising the Speewah Fluorite Project: 3D Model Tivan and Lycopodium completed PFS Engineering Design Review in May 2024 – a major PFS Engineering milestone. For personal use only Figure 14: Front gate view of Process Plant with Fluorite Resource outcrop in background. Source: Lycopodium P
Slide 27: Integrating Hydro
Tivan: Integrating Hydro For personal use only • 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 transmis
Slide 28: Targetting environmental approvals in 2025
Tivan: Targetting environmental approvals in 2025 For personal use only Tivan commenced baseline surveys in July 2023. Figure 16: Overview of the environmental approval process for the Project, indicating Tivan's current progress through baseline studies and pathway through non-formal assessment. 28
Slide 29: Traditional Owners inclusion
Tivan: Traditional Owners inclusion Tivan is committed to developing innovative pathways For personal use only that facilitate genuine inclusion and participation of Traditional Owners and Native Title Holders across the full project life-cycle. Further information can be found in Tivan's submission
Slide 30: China now the world's largest importer of Fluorspar
Tivan: China now the world's largest importer of Fluorspar For personal use only • China produces and consumes 2/3 of global Fluorspar, a vital feedstock for semiconductors & EV batteries, each geo-strategically relevant sectors. • The AI boom is driving unprecedented CAPEX in the semiconductor indu
Slide 31: Fluorspar is a critical feedstock in the EV battery chain
Tivan: Fluorspar is a critical feedstock in the EV battery chain For personal use only Fluorine is the most electronegative element. This property underpins China dominates current production and consumption of Fluorspar its widespread industrial use & its prominence in high energy density (60%), ye
Slide 32: Fluorspar prices are trending higher with low volatility
Tivan: Fluorspar prices are trending higher with low volatility For personal use only • 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
Slide 33: Sandover Fluorite Project
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Slide 34: Sandover Fluorite Project – Acquisition
Tivan: Sandover Fluorite Project – Acquisition • On 21 November, Tivan announced the For personal use only acquisition of Australia's highest grade Fluorite prospect, drilled in the 1970s. • The acquisition is highly synergistic, enabling Tivan to leverage multiple workflows and capabilities associa
Slide 35: Sandover AI Project
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Slide 36: Sandover AI Project – an industry leading collaboration
Tivan: Sandover AI Project – an industry leading collaboration Exploration Alliance with EARTH AI: For personal use only An industry leading AI-driven exploration in central Australia • Commenced Q1 2023 • Maximises alignment with critical minerals secular thematic • Use of cutting-edge AI technolog
Slide 37: Rare High-Grade Lead-Silver Surface Mineralisation Discovery
Tivan: Rare High-Grade Lead-Silver Surface Mineralisation Discovery Discovery: For personal use only 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 indicati
Slide 38: Speewah Vanadium Project
Speewah vary Project / TANF :
Slide 39: Tivan life cycle – circularity
For personal use only Figure 25: Tivan life cycle – circularity is integral to sustainability 39
Slide 40: Speewah is Australia's Premier VTM Resource
Tivan: Speewah is Australia's Premier VTM Resource Background: For personal use only Tivan acquired Speewah in Q1 2023 following an extensive review of global VTM resources. Development Pathway: Tivan has pursued two development pathways: Salt Roast & TIVAN+ critical minerals technology with CSIRO.
Slide 41: Major proponent at MASDP
Tivan: Major proponent at MASDP Background: For personal use only 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 proce
Slide 42: Strategic R&D Partnership with CSIRO on TIVAN+ Technology
Tivan: Strategic R&D Partnership with CSIRO on TIVAN+ Technology Background: For personal use only 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
Slide 43: Strategic R&D Partnership with Sumitomo Electric Industries
Tivan: Strategic R&D Partnership with Sumitomo Electric Industries Background: For personal use only Tivan is completing a testwork program to achieve VRFB specifications provided by Sumitomo Electric Industries (SEI) using on Speewah ore. Testwork Interim Results: Testwork results for salt roasting
Slide 44: For personal use only
For personal use only 44
Slide 45: Organisation Chart
Tivan: Organisation Chart For personal use only Figure 30: Team Tivan 45
Slide 46: Partners
Tivan: Partners For personal use only 46 Figure 31: Tivan's partners
Slide 47: Corporate Overview
Tivan: Corporate Overview For personal use only Capital Structure* Tivan was formerly known as TNG Limited. Following a change of control event in late 2022, Tivan's new management team renamed the company in January 2023, and adopted Ordinary shares on issue 1,921,984,630 a new ASX ticker: TVN. Sha
Slide 48: For personal use only
For personal use only 48
Slide 49: Appendix 1: Global Fluorspar Peer Comparison
Tivan: Appendix 1: Global Fluorspar Peer Comparison For live links: Read here Pre-Feasibility Study 30 July 2024 For personal use only 49
Slide 50: Appendix 2: Global Fluorspar – Projects & Deposits
Tivan: Appendix 2: Global Fluorspar – Projects & Deposits For live links: Read here Pre-Feasibility Study 30 July 2024 For personal use only 50
Slide 51: Appendix 3: Vanadium Titanomagnetite Peer Comparison
Tivan: Appendix 3: Vanadium Titanomagnetite Peer Comparison For live links Read here ASX Announcement dated 20th February 2023 For personal use only 51
Slide 52: Disclaimers
Disclaimers Reliance and Forward Looking Statements For personal use only 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 Limite
Slide 53: Competent Person's Statement
Competent Person's Statement Exploration Results For personal use only Tivan’s exploration activities are being overseen by Mr Stephen Walsh (BSc). The information that relates to exploration results in this presentation is based on and fairly represen ts information and supporting documentation pre
Slide 54: Competent Person's Statement continued
Competent Person's Statement continued Sandover Exploration Results The information in this presentation that relates to exploration results for the Sandover Project has been extracted from the Company’s previous ASX announcements entitled “Copper & Lithium Targets Identified at Sandover Project” da
Slide 55: Key Risks
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 the
Slide 56: 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 Speewah Project, is still at the stage of development planning and there is
Slide 57: Metallurgical and geotechnical risks
Metallurgical and geotechnical risks 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 meta
Slide 58: Commodity price risk and exchange rate risk (continued)
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 remai
Slide 59: Environmental liabilities risk
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 ris
Slide 60: Reliance on key personnel
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 material a
Slide 61: Economic risks
Economic risks General economic conditions, movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company’s exploration, development and production activities, as well as on its ability to fund those activities. Further, share market conditions may a
Slide 62: International Offer Restrictions
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 country
Slide 63: International Offer Restrictions: New Zealand, Singapore
New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Mar kets 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 sale
Slide 64: For personal use only
For personal use only