Tivan Limited (ASX: TVN) Acquires Second Fluorite Project
Acquisition Overview
Tivan Limited (ASX: TVN) has signed a Binding Term Sheet for the acquisition of the Sandover Fluorite Project, located northeast of Alice Springs. The project, highly prospective for high-grade fluorite (CaF2), is situated 8 kilometres east of Tivan’s existing Sandover Project. The company will pay a total consideration of $1.075 million in cash, comprising upfront and contingent payments related to resource definition and production milestones.
Strategic Importance
Fluorite is emerging as a critical mineral for the semiconductor industry and next-generation lithium-ion batteries, making this acquisition strategically important. This project enhances Tivan’s upstream fluorite exposure in Australia while presenting synergies with the Speewah Fluorite Project, which is currently in partnership with Sumitomo Corporation.
Future Directions
Tivan plans to commence an initial mapping and surface sampling program before the end of 2024. This program aims to confirm historical mineralisation areas and identify new prospects, setting the stage for further exploration in 2025. Tivan will liaise with the Central Land Council regarding its exploration plans and engagement with local Traditional Owners.
Executive Comments
Grant Wilson, Executive Chairman of Tivan, stated, “Tivan is delighted to have finalised this important transaction in good time. This acquisition will enable us to leverage our workflows as we continue to develop critical mineral resources.” He also expressed gratitude towards Andrew McIlwain, Managing Director of Investigator, for facilitating the complex deal process.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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