On 7 August 2025, Tivan Limited announced significant progress on its Speewah Fluorite Project with important funding developments from the Australian Government’s International Partnerships in Critical Minerals Program. The project received a second payment installment of $2 million (net of GST) from a $7.4 million grant awarded in December 2024, bringing total received grant funds to $3.25 million. The funding will support both the Feasibility and Definitive Feasibility Studies, crucial steps before making a final investment decision to move into the construction and operation phase. In a strategic move, a Deed of Novation was executed with the Commonwealth of Australia, transferring the grant agreement from Tivan Limited to Fluorite SPV Pty Ltd. This entity serves as the project vehicle for the joint venture between Tivan Limited, Sumitomo Corporation, and Japan Organization for Metals and Energy Security (JOGMEC). Alongside the grant funding, Fluorite SPV recently secured an equity investment of $5.3 million from Sumitomo Corporation and JOGMEC’s special purpose subsidiary, Japan Fluorite Corporation, which earned them an initial 7.5% stake in the project. Further payments totaling $4.15 million are scheduled for 2026 and will be paid directly to Fluorite SPV. Executive Chairman Grant Wilson noted the constructive role of the IPCM grant in advancing the joint venture, reflecting the accelerated progress of the Speewah Fluorite Project in the first half of the year. The sentiment surrounding this development is mixed. On the bullish side, the infusion of government grant funding combined with equity investment from established industry players underpins a strong financial commitment and credibility, hinting at promising growth prospects for the project. However, on the bearish side, the project’s reliance on the successful completion of feasibility studies and further funding installments highlights potential risks, as any delays or unforeseen challenges could impact the overall timeline and project valuation.