Tivan Completes Tranche 2 Funding for Western Australia Project, Shares Up 7%

MT Newswires Live

04/01

Tivan (ASX:TVN) said Japan Fluorite Corporation (JFC) completed its AU$5 million tranche 2 equity investment for the Speewah fluorite project in Western Australia, according to a Wednesday Australian bourse filing.

JFC is the holding company of Tivan's joint venture partners, Sumitomo Corporation and Japan Organization for Metals and Energy Security (JOGMEC), for the project, which has completed its Tranche 2 equity investment in the joint venture company Fluorite SPV (FSPV). FSPV owns 100% of the project.

The company said that the funds will be used to progress the definitive feasibility study for the project currently underway.

The company's shares rose 7% in recent Wednesday trade.

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