Tivan (ASX:TVN) said Japan Australia Fluorite Associates (JAFA) has appointed Sydney-based independent corporate advisory firm ICA Natural Resources (ICANR) to advise on debt funding for the planned development of the Speewah fluorite project in Western Australia, according to a Friday Australian bourse filing.

The company said it has made material progress on both equity and debt funding workstreams for development of the project, with ICANR engaged to finalize the transaction in terms of structuring and execution.

Tivan is progressing a definitive feasibility study for the project under an incorporated joint venture with Sumitomo Corporation and Japan Organization for Metals and Energy Security, the filing added.

The company's shares rose 3% in recent Friday trade.