Tivan (ASX:TVN) has completed its technology review assessing two processing technologies for the Speewah Vanadium Titanomagnetite Project in Western Australia.
The review focused on the TIVAN+ processing technology developed with CSIRO and a conventional salt roast technology.
Tivan's 12-month evaluation confirmed both technologies' effectiveness at processing Speewah VTM concentrate, substantiated by test results.
The company now aims to finalise the salt roast test work to produce vanadium electrolyte for Vanadium Redox Flow Batteries and to preliminarily assess third-party interest in commercialising the TIVAN+ technology.
The review also highlighted ongoing negotiations with the government regarding funding for a TIVAN+ Pilot Plant.
Tivan plans to update stakeholders in the fourth quarter on its strategic direction, driven by the results of the dual technologies.
Executive Chairman, Grant Wilson, remarked, "The principal purpose of Tivan’s vanadium technology review was to consolidate the material progress we have made over the past eighteen months and to promote competitive tension between the two development pathways."
He added that the review confirmed Speewah's credentials as a world-class vanadium resource.
Further updates from Tivan on both technology pathways are anticipated in the fourth quarter, as the company continues to evaluate its strategic options.
Tivan is a critical minerals company primarily focused on the development of vanadiferous titanomagnetite projects in Australia. The company's projects include Speewah, Mount Peake, Sandover, Kulgera and Moonlight.