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Tivan Limited (ASX:TVN) is progressing an access road alignment that will give the mining company new “more direct” haulage routes to its Speewah Fluorite Project, which shapes as the first of its kind in Australian processing.
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Current access to the site comes through 47 kilometres of single-lane tracks that have been used over many years. They run from the Doon Doon roadhouse near the Great Northern Highway through to the project.
The company has been slowly working towards improved haulage too and from the site, taking “cultural sensitivity and environmental stewardship” into account through all project planning. Now, Tivan – already armed with three general licences for the corridor – is on the verge of building its “more direct” roads.
“Over the past year, we’ve been working closely with the Kimberley Land Council and the Traditional Owners and Native Title Holders of the Speewah Fluorite Project to progress planning for the access road,” Tivan chairman Grant Wilson said.
“We’re grateful for their engagement and support in working through the significant complexity involved… we’re pleased to have resolved various matters in a timely fashion.”
The new design is certainly an upgrade: It will see a direct 37-kilometre route added, which will start five kilometres south of the Doon Doon-access track. The new road will then bypass the Doon Doon community entirely and avoid the Liyama Spring and Liyama Gorge areas – but all this is going to take some time.
Until everything is built, Tivan will still transport its acigrade fluorspar on the old route.
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And so, not everyone is quite convinced – Tivan shares dropped as much as -11% to end Week 24 before then opening early Monday trade down another -3.3%.
Some of that hesitancy may have come from the fact that Tivan is spruiking all these road works but is still a ways away with feasibility studies, red tape, and earthworks to come – but the bourse’s general slip can’t have helped either.
More “ultra high-grade” mineralisation at Sandover did little to change sentiments either.
Heading into Monday trade today, TVN has been at 8.8cps.
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