Tivan Limited (ASX:TVN) Completes Acquisition of Speewah Project
Acquisition Completion
Tivan Limited (ASX:TVN) has finalised the acquisition of the Speewah Project in the Kimberley region, completing all contractual arrangements with King River Resources Limited (KRR).
Financial Settlement
The total consideration for the acquisition was $20 million, comprising $10 million in Tivan shares and $10 million in staged cash payments. Tivan paid the final $5 million in cash ahead of the due date, with no additional shares issued as the share VWAP exceeded $0.10 on 17 February 2025.
Executive Comments
Mr Grant Wilson, Executive Chairman, commented: “It has been a two year journey for Tivan to secure ownership of the Speewah Project without any form of liability or encumbrance. We are pleased to have achieved this milestone on a just-in-time basis for our proposed Joint Venture with Sumitomo Corporation for the Speewah Fluorite Project. We extend thanks to KRR for their professionalism throughout and for their ongoing presence as a major shareholder at Tivan”.
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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.