Dear Shareholders and Stakeholders,

The Board of Tivan Limited (ASX: TVN) (“Tivan” or the “Company”) is pleased to advise that it has appointed engineering and construction company Lycopodium to oversee the pre-feasibility study (“PFS”) for Tivan’s Speewah Fluorite Project in the Kimberley region of north-east Western Australia. Tivan announced in January 2024 that the Board had resolved to progress the project, including commencement of a PFS, following completion of a positive internal assessment (see ASX announcement of 30 January 2024).

Fluorite ore is used to produce commercial grade fluorspar products and fluorine; industrial applications include steel, aluminum and chemical manufacturing, and emerging sectors including next-generation lithium-ion batteries, solar cells and semiconductor manufacturing. In December 2023, the Australian Government added fluorine to Australia’s Critical Minerals List, in recognition of its role in the energy transition and lack of production in-country.

Lycopodium is a global process, engineering and project delivery organisation, founded and headquartered in Perth, Western Australia. Working across the resources, rail infrastructure and industrial processes sectors, Lycopodium employs over 1,200 staff globally, with the value of capital projects currently in delivery in the order of A$4 billion. Resources sector project engagements in Western Australia include Kathleen Valley (lithium; Liontown Resources), Greenbushes (lithium; Talison Lithium), Tropicana (gold; AngloGold Ashanti), Marandoo (iron ore; Rio Tinto) and Mt Weld (rare earths; Lynas).

Lycopodium provides a full suite of project development and execution services, including feasibility studies, engineering and design, process development and optimisation, construction management and commissioning and operational support services. Lycopodium owns Orway Mineral Consultants, who offer extractive metallurgy and process engineering services with expertise in comminution, beneficiation and hydrometallurgy, and provides full EPC services via Mondium, its incorporated joint venture with Monadelphous.

The PFS for the Speewah Fluorite Project will assess the technical and economic feasibility of a mining and processing operation at the Speewah site to produce acid grade fluorspar, building on a significant body of work previously undertaken on the Speewah fluorite deposit during the exploration and scoping phases. The PFS will include studies focused on mining, hydrology, tailings, engineering and project economics, and is expected to be completed by June 2024.  

For full information please see our ASX announcements page.