Tivan (ASX:TVN) said it is finalizing a feasibility study for the Speewah project in Western Australia, focused on an operation producing acid-grade fluorspar for global export, with progress made across key workstreams this year, according to a Wednesday filing with the Australian bourse.

The company completed the first phase of the major drilling program at the project to support the feasibility study and resource extension, with assay results pending, the filing said.

Additionally, an ore sorting concept study is progressing alongside the feasibility study to assess the advantages of integrating ore sorting technology into the project, per the filing.

Shares rose 2% in morning trade on Wednesday.