Tivan Limited has initiated a significant operational phase at its Molyhil tungsten and molybdenum project in Australia’s Northern Territory. The commencement of a maiden drilling campaign marks the company’s transition from advanced planning to active on-ground exploration. This move coincides with strengthened financial backing for its larger Speewah fluorite venture, supported by a key international strategic alliance.
Strategic Drilling Campaign Underway at Molyhil
The company has launched an initial drilling program consisting of 13 holes, designed to cover an aggregate length of 1,950 meters. Geological teams are targeting four specific tungsten prospects. These areas were identified in prior work as exhibiting characteristics analogous to the established Molyhil deposit. This exploratory work forms a component of a broader regional strategy to develop Central Australia as a hub for critical minerals.
Management is utilizing this phase to thoroughly assess the potential for resource expansion. A subsequent, more extensive drilling campaign is already scheduled for the third quarter of 2026.
Project Financing and International Endorsements
Alongside field activities, Tivan has secured accelerated funding from the Australian government. A modified grant agreement will see AUD 3 million in state funds released to the company in August 2026. This capital is specifically allocated to complete the definitive feasibility study (DFS) for the Speewah fluorite project.
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The Speewah project has also garnered substantial international support, providing further momentum:
* Japanese partners Sumitomo Corporation and JOGMEC have granted formal approval for the project’s pre-feasibility study.
* This approval triggered a AUD 5 million equity investment from Japan Fluorite Corporation.
* The governments of Japan and the United States have included the venture in a joint policy document aimed at securing semiconductor and electric vehicle supply chains.
Market Performance and Forward Strategy
Despite these substantive operational and financial developments, Tivan’s shares faced selling pressure. The stock declined approximately 11 percent in a recent session, trading at 0.19 euros. Market observers attribute part of this movement to the company’s issuance of around 2.1 million new shares, which is funding ongoing project advancement.
The immediate focus for investors will be the assay results from the Molyhil drilling program. Concurrently, the company’s leadership is progressing the Speewah DFS, which is intended to provide the foundation for a final investment decision. Tivan’s long-term objective remains the commencement of commercial production in the 2028 financial year.
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