The Speewah Project (Fluorite and Vanadium) is held in Tivan’s 100% subsidiary, Speewah Mining Pty Ltd (SMPL).
Dec 24, 2024 - Tivan and Sumitomo Corp. have signed a Memorandum of Understanding (MoU) for the Speewah Fluorite Project. The MoU records the key terms for a planned incorporated joint venture (IJV) between the parties for Speewah Fluorite Project. The parties are targeting March 2025 for the binding agreements to be completed.
The agreements will be negotiated around the following key non-binding principles:
• Aggregate equity investment of up to A$60M via a Sumitomo Special Purpose Vehicle (SSPV) for an equity interest of up to 22.5% in the IJV.
• SSPV investments in the IJV will be following completion of the Tivan corporate restructure and the satisfaction of conditions in the formal agreement.
The purpose of the restructure is to separate Fluorite and Vanadium resources, with IJV taking ownership of Fluorite deposit and Vanadium deposit remaining with SMPL.
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