The Tivan Ltd (ASX: TVN) share price is in focus today after the company appointed ICA Natural Resources to advise on project finance for the Speewah Fluorite Project. Tivan also announced material progress towards securing both equity and debt funding for the Western Australian project.
Image source: Getty Images
What did Tivan report?
- Appointed ICA Natural Resources (ICANR) to advise on debt funding for Speewah Fluorite Project
- Definitive Feasibility Study for the project on track for completion later in 2026
- Binding agreements with Sumitomo Corporation and ETFS Capital for up to $100 million in equity funding
- Non-binding Letter of Support from Export Finance Australia (EFA) and progressed to due diligence phase with the Northern Australia Infrastructure Facility (NAIF)
- Joint venture established with Sumitomo Corporation and Japan Organization for Metals and Energy Security
What else do investors need to know?
Tivan continues to advance plans for an Australian-first mining and processing operation to produce high-grade fluorspar at the Speewah project. The company aims to use the new ICANR appointment to finalise project debt structuring and secure necessary funding for development.
ICANR, as an experienced advisor in critical minerals and resources project finance, is expected to help Tivan navigate government concessional debt processes, bringing valuable expertise in working with partners like EFA and NAIF.
What did Tivan management say?
Executive Chairman Grant Wilson said:
Delighted to announce the appointment of ICA Natural Resources on behalf of Japan Australia Fluorite Associates, following an extremely competitive process over the past two months. This announcement represents the start of our push to complete the project finance round for the Speewah Fluorite Project, enabling a Final Investment Decision, that will be led by Tivan on behalf of our Joint Venture.
What's next for Tivan?
All eyes are now on the completion of the Definitive Feasibility Study later this year, which will provide the basis for a final investment decision. The joint venture with Sumitomo and Japanese state agencies is expected to support project delivery and commercialisation if funding milestones are achieved.
Securing debt and equity finance will be a key focus in coming months, with Tivan leveraging ICANR's expertise to work through due diligence and execution phases.
Tivan share price snapshot
Over the past 12 months, Tivan shares have risen 127%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 4% over the same period.
