TVN (ASX) 2018 The Year it Comes Together !

Originally posted by maxter ↑

Happy New Year all.

Not going jinx the year with predictions. Not.

It's going to go down big this year and we will see Mt Peake Mine in construction by mid year and and The Darwin Refinery Approvals and Finance unconditional by Q4.

So no predictions, just saying it's happening. The law of averages says we/I gotta get it right sometime.

Anyway went through the EIS announcements and NT EPA papers over the last week just for giggles.

Errors and omissions accepted here is some related stuff that might be of interest.

TNG files Notice of Intent filed on 27 October 2015;

TNG advises that it intended to build a Refinery at Middle Arm Darwin Harbour, Adj to Elizabeth River (Lot 1817 Hundred of Ayer)

TNG advise that they are splitting The Refinery app off from My Peake Mine due to different considerations and geographical seperation.

The Company makes it clear that The projects are entwined and The Refinery is dependant the Mt Peake Mine however if there is no approval for The Refinery the Mt Peake Mine will proceed on a stand alone basis. ( His is IMO important, finance sources are different and licencing and permits for Mt Peake are significantly more advanced.)

The Land is some 507 Hectares in Total 40 mangrove intertidal and 467 terrestrial. The bulk of the land is Zoned FD but The Mangroves are Zoned Environmental Protection. TNG's proposed Refinery will sit on 140 Hectares so there's plenty of buffer and The NOI says they can avoid adverse impact on sensitive areas both in construction and operation of The Refinery.

Finally The Land has been assessed under The "Native Title Applications DC96/4 Darwin Larrakia" with the finding that The Land is Vacant Crown Land and no Native Title exists.

NT EPA deliver Statement of Reasons on 15 January 2016:

The Authority deems that the proposed activity will be subject to EA Act and EPBC Act for the following reasons,

1. The Site is adjacent to wetlands and The Harbour wich are sensitive and they need to know details of construction operation and movement of inward chemicals and resulting waste.

2. Proximity to two Suberbs,

3. Clarification of emissions,

4. Clarification of waste streams generated from operation of Refinery

5. Hazardous goods transportation,

6. Infrastructure demands and consequential impacts on existing infrastructure.

So all thats pretty straightforward. The German precision of SMS Group can address these understandable headings.

NT EPA issue the full Terms of Reference to enable TNG to prepare its Draft EIS on 20 May 2016;

The TOR are comprehensive and The detail required in the Draft EIS is comprehensive. It is clear that TNG could not file its Draft EIS untill it had settled on foe e.g. the specific Titanium pigments option that it settled on together with all final flow sheets etc from Mine to Refinery to Port.

Also NT EPA advised that the Public Exhibition after the filing of the Draft EIS should be at least 6 weeks and not include December and January.

In recent Announcements TNG has said the following regarding timing;

21 August 2017 Activities Update,

Darwin Refinery EIS has commenced and is expected to be completed by end of 2017. Not aware of any major issues.

September 2017 Quarterly Activity dated 18 October 2017;

As above with the addition that " but required confirmation of the final TIVAN flow sheets and associated plant and equipment".

DFS update and Financial Model released 20 November 2017;

As above with an additional comments that "negiations of terms of acquisitions of Land advanced they are not concluded".

In Summary, didn't hit 2017 end timeline but that was due to need for completion of TIVAN flowsheets which are now done. There appears no barrier to filling the Draft EIS and the Land is appropriately Zoned, there are no title issues and SMS will be all over the rest of the things that need to be addressed. So all good. We should see the Draft EIS for The Refinery filed this month.

Further we would be expecting the NT Assessment of The EIS for Ministarial consideration early this month.

In relation to Finance the procedure identified by Wonderdog pre AGM there would appear to be potential delays in German ECA confirmations. I'm hoping that there is a back door that SMS use and we are further advanced that things appear. Round two of discusions was initially penciled in for November in Germany but delayed presumably as finally flow sheets etc didn't hit the table till November end. As updated DFS is now done that meeting could be this month!!!

Anyway ECA monies appears to be directed at Darwin Refinery and Mt Peake Mine is separately financed by Equity partners and others so delays on the Refinery arnt a complete bomb out. We can still get operational with finance and a permit.

Big month ahead holders. Sorry bout my long winded diatribe.

Expand

No apologies necessary maxter... appreciate your positivity as always. However for the past 3 or 4 years long termers have suffered imo by PBs high expectations with no delivery.
We still have no tio2 offtake in place what was said well over a year ago to be just about complete...latest being with lawyers looking over it.
This would be the game changer on all fronts with ECA funding and financing if it occurs.
The problem, as always, is what comes out of PBs mouth ...like myself the market doesn't take any notice. That's why sp is 13.5c.
Happy New Year to all.

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