the commercial reality of tivan?, page-19

I went to the AGM today. On Tivan Paul said should have everything by 30 June 2014 and that it was critical for the DFS.

Regarding financing, he said there may be some debt financing but it would not be the critical part. I gather he is hoping for some sort of 'partner' but I was a bit unclear on that.

One thing he did say while we were standing around talking at the end was that he hoped to enter production by end 2014. Ok, I agreed that would be nice - but my personal view is that it would be unlikely.

He also stressed the likelihood of offtake agreements etc being in the pipeline (my attempt to summarise his words). No timeframe.