The Tivan Ltd (ASX: TVN) share price is in focus after the company secured a further $3 million in IPCM grant funding for the Speewah Fluorite Project, bringing total funds received to $6.4 million. This funding will help accelerate the ongoing Definitive Feasibility Study, which is expected to be completed later this year.
Image source: Getty Images
What did Tivan report?
- $3 million in IPCM grant funding received for the Speewah Fluorite Project
- Total IPCM grant funding received to date now $6.4 million (net of GST) out of $7.4 million
- Definitive Feasibility Study (DFS) for the Project is underway and on schedule for completion this year
- DFS is managed through an incorporated joint venture with Sumitomo Corporation and JOGMEC
- Deed of Variation signed to bring forward funding and align milestone scheduling
What else do investors need to know?
The Speewah Fluorite Project sits in Western Australia and is progressing under a joint venture framework with significant Japanese partners, Sumitomo Corporation and JOGMEC, as well as ETFS Capital Limited. This backing highlights strong international confidence in the project.
The latest $3 million IPCM grant payment follows recent adjustments agreed with the Commonwealth of Australia to the funding schedule and milestones. The grant aims to assist in completing both the Feasibility and Definitive Feasibility Studies, pivotal steps for project advancement.
Tivan previously transferred the IPCM grant agreement to the project's dedicated joint venture entity, Japan Australia Fluorite Associates Pty Ltd, as part of its broader strategy to facilitate joint ownership and operational excellence.
What did Tivan management say?
Executive Chairman Grant Wilson said:
The IPCM grant has made an important contribution to the pre-FID funding pathway for the Speewah Fluorite Project. We are pleased that the Department of Industry, Science and Resources has approved the next payment tranche, based upon a review of our material progress through 1H 2026.
What's next for Tivan?
Tivan is focused on finishing the DFS for the Speewah Fluorite Project later this year, which will inform future investment decisions and development plans. The project continues to benefit from strong government and industry support, setting a foundation for potential commercialisation post-study.
With the majority of grant funding now received, the company's immediate goal remains on delivering the DFS to international standards and preparing for the next steps in project development alongside its key partners.
Tivan share price snapshot
Over the past 12 months, Tivan shares have risen 141%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.
