Tivan Limited announced on 6 June 2025 that it has secured two exploration grants from the Northern Territory Government’s Geophysics and Drilling Collaborations program for its Sandover Fluorite Project, a highly prospective asset located about 230km north-east of Alice Springs. The competitive grants – one for $100,000, allocated toward the maiden reverse circulation drilling program, and a second for $50,000, earmarked for early-stage metallurgical test work – highlight the NT Government’s support under its Resourcing the Territory initiative. The project, acquired in November 2024, follows an extensive surface sampling campaign conducted in December 2024, which returned assay results consistent with a world-class fluorite deposit. Tivan’s detailed exploration and approvals plan targets the commencement of drilling and a scoping study in the final quarter of 2025. The Company is also evaluating two project pathways: one that would expedite direct shipping ore production for metspar with a CaF2 content exceeding 80%, and another that seeks to produce acidgrade fluorspar with CaF2 levels above 97%. In addition to securing funding, Tivan is rapidly advancing its project timeline through rigorous planning and regulatory approvals, including applying for an Environmental (Mining) Licence from the Department of Environment, Parks and Water Security. The Company is also actively engaging with Traditional Owners, Native Title Holders, and the Central Land Council regarding cultural heritage and sacred site clearances. Assay results from the recent surface sampling are expected this month, and the geology team is scheduled to visit the Sandover area in September and October following the drill program at the Speewah Fluorite Project. From a bullish perspective, the infusion of grant funding reduces exploration financial risks, reinforces NT Government confidence in the project’s potential, and supports accelerated drilling and metallurgical testing. These factors, coupled with promising assay results and strategic planning for both direct shipping ore and acidgrade fluorspar production pathways, could position Tivan Limited favorably if further milestones are achieved. Conversely, from a bearish viewpoint, uncertainties remain regarding regulatory approvals and cultural heritage clearances, and the forward-looking nature of technical milestones means that any delays in assay results or drilling commencement could temper near-term investor sentiment.