Tivan Ltd V.TVN

Primary Symbol: TNGZF

Metals & Mining Copper

Tivan Limited is a critical minerals company primarily focused on the development of vanadiferous titanomagnetite (VTM) projects in Australia. The Company's projects include Speewah, Mount Peake, Sandover, Kulgera and Moonlight. The Company owns two large vanadiferous titanomagnetite deposits, the Speewah Vanadium-Titanium-Iron Project located 110 kilometers (km) southwest of Kununurra in Western Australia, and the Mount Peake Vanadium-Titanium-Iron Project located 230 km north of Alice Springs in the Northern Territory, Australia. The Sandover Project covers an area of over 8,000 square kilometers (km2) and is considered prospective to host lithium-bearing pegmatites, and also sediment-hosted copper and iron oxide copper-gold deposits. The Kulgera Project cover an area of around 1,231 km2. The Moonlight Project has two exploration licenses. The Company's projects also include Cawse Extended and Kintore East. It has developed a mineral processing technology - TIVAN+.

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Tivan Ltd > Q3 results

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Comment by borne2runon Nov 22, 2017 9:23am

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Post# 27010143

RE:RE:RE:Q3 results

Trader, the seven investees are not bankrupt, they just aren't making any royalty payments (small difference).
But, all in all, a terrible performance by management the last few years,
Annualized cash flow is less than $1 million per year.
Approx 100 million shares, over $17 million face value in debentures.
EV / Cash Flow is huge, probably above 30, and 10 would be fair value.

Luckily I have never owned any shares. Bought some debentures about a year ago and sold for a minor profit after the first two 2017 quarterly reports showed no improvement. Yield to maturity (Dec 2018) is over 30%, indicating plenty of skepticism by the fixed income crowd.

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