Tivan Limited has made significant strides in its critical minerals portfolio, establishing a key joint venture, acquiring the Molyhil Project, raising $15 million, and commencing drilling at Sandover. These developments underscore its growing role in Australia’s strategic minerals sector.
- Established joint venture for Speewah Fluorite Project with Sumitomo and JOGMEC
- Acquired 100% of Molyhil Tungsten-Molybdenum Project
- Completed $15 million share placement led by ETFS Capital
- Received regulatory approval and commenced drilling at Sandover Fluorite Project
- Formed strategic partnership with Exante Data for critical minerals market intelligence
Strategic Joint Venture Formation
Tivan Limited has formalised a significant incorporated joint venture (IJV) for its Speewah Fluorite Project in Western Australia, partnering with Japanese giants Sumitomo Corporation and the Japan Organization for Metals and Energy Security (JOGMEC). JOGMEC’s 49% equity stake in Sumitomo’s special purpose vehicle, Japan Fluorite Corporation, marks a milestone, bringing $5.3 million in initial funding to advance feasibility studies. This collaboration not only strengthens Tivan’s project financing but also deepens Australia-Japan ties in critical minerals.
Portfolio Expansion with Molyhil Acquisition
In a strategic move to diversify its critical minerals assets, Tivan signed a binding term sheet to acquire 100% of the Molyhil Tungsten-Molybdenum Project in the Northern Territory. The project boasts a JORC-compliant resource with significant tungsten and molybdenum grades, both critical to defence, automotive, and clean energy sectors. The acquisition complements Tivan’s existing fluorite projects and leverages infrastructure synergies, positioning the company for a long-life critical minerals precinct in central Australia.
Capital Raising and Financial Position
Tivan successfully completed a $15 million share placement, attracting institutional and sophisticated investors, notably an $8.3 million cornerstone investment from ETFS Capital Limited, the family office of prominent ETF pioneer Graham Tuckwell AO. The funds will support the Molyhil acquisition and ongoing exploration and development activities. The company ended the quarter with $18.57 million in cash reserves, underpinning its capacity to advance multiple projects simultaneously.
Advancing Sandover Fluorite Project
Regulatory approval has been secured for Tivan’s maiden drilling campaign at the Sandover Fluorite Project in the Northern Territory. The drilling program, designed in two stages, aims to test high-grade fluorite veins identified through recent surface sampling. This initiative follows a Memorandum of Understanding with Sumitomo Corporation for collaborative development and marketing, reinforcing the strategic partnership. Early metallurgical testwork at Speewah has delivered acid-grade fluorspar exceeding product standards, with promising ore sorting results that could enhance operational efficiency and environmental outcomes.
Building Capability and Market Intelligence
Recognising the complexity of advancing multiple critical minerals projects, Tivan is expanding its in-house technical and project delivery teams, appointing key roles including a Project Manager and Geologists for its Australian and Timor-Leste operations. Additionally, the company has formalised a strategic partnership with New York-based Exante Data, Inc to access advanced data analytics and market intelligence, enhancing its policy advisory and strategic positioning in the critical minerals sector.
Bottom Line?
With strong partnerships, diversified assets, and robust funding, Tivan is poised to accelerate its critical minerals projects, but upcoming drilling results and binding agreements will be key to sustaining momentum.
Questions in the middle?
- Will Tivan secure binding agreements to fully capitalise on the Speewah JV with Sumitomo and JOGMEC?
- How will metallurgical and drilling results at Sandover influence project timelines and financing?
- What impact will the Molyhil acquisition have on Tivan’s valuation amid rising tungsten and molybdenum prices?