Tivan Limited has announced a Memorandum of Understanding with Sumitomo Corporation for the Sandover Fluorite Project in the Northern Territory of Australia. The agreement marks the second collaboration between the two companies following their joint venture on the Speewah Fluorite Project in Western Australia. Under the MoU, the parties will enter into good faith discussions with the intent to negotiate commercial agreements covering development, financing, operations, marketing, and distribution of the project’s products, pending the delivery of a Pre-Feasibility Study. The project, acquired by Tivan in November 2024 and finalized in March 2025, has already shown promising results with two surface sampling programs confirming ultra high-grade calcium fluorite over a significant strike length. Tivan is progressing works to define a deposit that can support mining and processing operations. The strategy includes an expedited pathway to produce metspar with a calcium fluoride content greater than 80%, as well as a traditional pathway for acidgrade fluorspar with a target of over 97% CaF2. An updated schedule indicates that the drilling campaign in October will further assess the viability of the direct shipping ore approach, with additional study phases planned for 2026. The MoU grants Sumitomo Corporation a first right of refusal should Tivan decide to sell or transfer any interest in the project. It also establishes an exclusivity period until 60 days after the submission of the Pre-Feasibility Study, with the agreement valid until 31 December 2026 unless terminated earlier. Additional project milestones include environmental licensing applications, cultural heritage approvals, and securing exploration grant funding from the Northern Territory Government. There is significant bullish sentiment around this development. The strategic partnership with a Fortune Global 500 company supports confidence in the project’s future, reinforced by strong assay results and supportive government funding. The collaboration aligns with Australia’s initiative to develop domestic critical minerals, especially as fluorine has been recently added to Australia’s Critical Minerals List. This positions the project well for supplying materials to key sectors such as lithium-ion batteries and semiconductor manufacturing. Conversely, some bearish considerations remain due to the early-stage nature of the project. The timeline is subject to potential delays, regulatory risks, and shifts in corporate priorities. Although high-grade assays are encouraging, the project’s commercial viability hinges on successful completion of the Pre-Feasibility Study, further resource definition, and securing binding commercial agreements. Investors should remain mindful of these inherent early-stage risks despite the promising collaboration and market potential.