TVN (ASX) Ann: Engineering firm engaged for Vanadium Electrolyte production

Originally posted by ASXaverick: ↑

Not sure if that response was tongue in cheek or not, but this announcement does beg the question - is it a job-keeper or gap-filler announcement (like previous pre-AGM announcements) or (as a previous post suggested) is TNG relatively confident about financing that they are looking to spend time/effort/cost into this activity right now.

From a macro perspective, battery tech is riding an upward momentum (more so in EV space) but supply side of minerals like Lithium is tight - see what is happening to PLS and others Li players. Climate change is getting more and more air time. In that sense, as long as the VRFB business model stacks up economically, I think TNG is gearing up for the next wave beyond Li-ion batteries. And this VRFB wave might be more compressed in timeframes as VRFB becoming mainstream is different to EV becoming mainstream with a lot more automotive players here. Perhaps the recent Tesla battery incident can also support VRFBs further. And whilst not cross promoting PLS, their timing with increased operational capacity/output in the near future into a tight market is evident with their recent online auctioning (good test to see if a spot market is needed for such commodities beyond their off takes) and reflected in the SP surge. Imagine TNG sitting well advanced in that regards.

Like the TiO2 patent, interesting to note that they want to patent their Vanadium Electrolyte. Why bother unless they have something qualitative on their hands here (and they are confident about it) and VE is a commodity in demand? Only potential indicator to support this that I can see (and understand) so far is from the last investor preso about the V205 product - "Expected 10% to 15% premium on market price for TNG product at 99.6%". As I have stated previously, this does look like something SMS/KfW would want to see with a water tight business model in place in order to support the financing. From Diggers, I get the sense that plenty of green money available and rare earths was a focus. With what is happening with China, TNG major status etc. I get the sense that financing might not be as big a challenge as I thought previously, but TNG has to be meticulous in their approach to financing. The down side is this does appear to us SH that TNG is dragging its way to turning soil at Mt Peake. Pointy end, yes I know, we are close. Keen to see what the alternative site analysis shows for TPF and therefore which option would TNG and/or NT Gov support - easiest & positive option for all parties would be DPF at Middle Arm but we may need to settle (and swallow) an alternative TPF location and whatever delay that might come with.

I do not understand however how TNG can produce VE when they have 100% LOM off take agreements for all 3 products from Mt Peake/TiVAN process. Where is the raw material for this coming from?

Last slide of that investor preso (pre-NTEPA EIS response sending TNG into a spin) did state
Looking forward
➢ Completion of FEED - I think this is now done more or less. Not sure if an alternative TPF location impacts this negatively.
➢ Finalise permitting for TIVAN® Processing Facility site - ongoing
➢ Project Delivery proposal - last announcement on SMS being more of a downstream partner so can only suspect some announcements (pre-AGM) coming on this (and the remaining points below)
➢ TNG Board FID
➢ Finance
➢ Appointment of EPC contractors
➢ Establish full Project Development Team
➢ Commencement of development
The believer in me just can not get my head around how this has the potential to be game changing when you look collectively at income streams from Mt Peake/TiVAN (patented) products, TiVAN royalties, VRFB, etc. But we have all been rounds the traps enough on this story. Just need a lift in SP to continue this belief!

What is the value of TNG oppies?

Expand

"Not sure if that response was tongue in cheek or not"

Both, and neither I guess.

I think the options may expire worthless but put another 6 months on them and it might be a different story. I'm not talking my position either as I hold a decent amount. I am a big believer in TNG, even with the delays et al. I think finance is pretty much ring-fenced by KfW, why else would they be hanging around this long, and SMS also. As you said, the forward looking slide is looking quite good. In my mind, only thing holding things up is TPF location, everything out is a formality.

Having said that, things might move quickly if site is secure soon and options may very well be in the money.

Here's hoping....

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(20min delay)
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