Tivan (ASX:TVN) completed the cash payment for the acquisition of the Speewah project in Western Australia to King River Resources (ASX:KRR), according to separate Monday filings with the Australian bourse.

The mining firm Monday paid AU$2.4 million in cash for the acquisition on top of the total AU$7.6 million paid toward the project as of July 8, bringing the payment to AU$10 million and completing the cash component to take over the project, the filing said.

Tivan's shares gained about 2% in recent Monday trade, while King River Resources' shares plummeted almost 7%.

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