TVN (ASX) Today’ announcement is phenomenal!

Originally posted by brunod: ↑

Today’s announcement is probably the most fundamental and strategic in our journey and we should be thankful that we are now truly a significant and influential global player in any uncertain terms with the Speewah acquisition, the move back to Darwin and the value creation Tivan provides.

This is creating a generational asset and for those wanting a shovel in the ground to create value are missing the fundamentals and the value creation we can create as we build out the strategy and business case for our reset and Tivan Limited.

We are running two fundamental deposits in parallel but I’m sure Speewah is the golden goose. Peake is not lost but in an environment of capex escalation it’s all about con grade and scale, logistics, infrastructure access and strength of deposit in terms of financial metrics. Cost of capex can be managed through revenue escalation and increasing production capacity.

I would hate to think the NPV at Speewah but I’m sure with Tivan attached it could possibly be $5bn plus. The upside is significant. It’s bigger, better and more commercially aligned to Tivan at Darwin.

For doubters looking to pop this decision as
commercially lacking need to leave the forum. The deal has been struck on commercially favourable terms. Simply look the V peer comparables and the sheer asset that has been acquired. In terms of the deal scrip at 10c and cash on a deferred basis is astute. To that end, Tivan isn’t desperate for cash. It has a few sources that have been mentioned previously so cash burn isn’t imminent and I would think they have a 6 month hiatus.

As I said we can create shareholder value without digging a hole in the ground. Tivan has changed the narrative and don’t doubt the big boys aren’t watching. There is lots to be done from here but we are building a “moat” around this company that makes it difficult to disrupt because it has a world class resource, technology and a shit load of high concentrate V. It makes us a truly global V player - the most influential with a geopolitical environment that is truly complimentary for us to deliver to the world.

I don’t believe this shift in direction changes the company’s narrative or timing. We were years away with Peake we all
know that. With Speewah I’m of the view the business case becomes compelling for investors, regulators and commercial parties including sources of debt and equity players to take the project to FID and project delivery.

The value equation is material and with a competent board and management team, shareholder value will materialise.

Peake has a purpose I’m sure. With all that mine testing we can access that reserve for pilot plant purposes etc to firm
up the business case and it’s complimentary integration with the Tivan process. It remains strategically important as we move forward.

So to all the doubters, Perth mining fraternity and those opposed to change wake up. This is Tivan Limited. Don’t live in the past. TNG is behind us. Please move on to the new era.

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Good on you Bruno, very well said. A massive announcement today.

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