Tivan Limited (ASX:TVN) Progresses Toward Joint Venture with Sumitomo Corporation
Joint Venture Progress
Tivan Limited has made substantial advancements with Sumitomo Corporation towards finalising a binding incorporated joint venture for the Speewah Fluorite Project in Western Australia.
Facilitating Workstreams
The company has incorporated new holding and special purpose vehicles, completed contractual arrangements, legal and tax due diligence, secured necessary clearances, completed a share placement, and progressed the Feasibility Study for the Project.
Future Steps
Tivan anticipates Sumitomo Corporation will soon apply to the Foreign Investment Review Board for approval of the proposed investment. The execution of the IJV agreements is expected in early April, with an extension of the exclusivity arrangements until 15 April 2025.
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