Tivan (ASX:TVN) secured grant funding of AU$7.4 million from the Australian government's International Partnerships in Critical Metals program for the Spewah fluorite project in Western Australia, according to a Friday filing with the Australian bourse.

Proceeds will be used to conduct feasibility and definitive feasibility studies for the project ahead of a final investment decision, the filing said.

Tivan plans to produce acid-grade fluorspar from the project together with Japanese partner Sumitomo, the filing added.

Company shares rallied pat 11% in recent Friday trade and earlier hit a new 52-week high.

Price (AUD): $0.08, Change: $+0.01, Percent Change: +11.43%