 has finalised its acquisition of the Speewah project in WA, as the company made its final payment to King River Resources (KRR).){kind=link}
Tivan finalises Speewah acquisition
Tivan Limited (ASX: TVN) has finalised its acquisition of the Speewah project in WA, as the company made its final payment to King River Resources (KRR).
Tivan acquired the Speewah project from KRR in Q1 2023. The acquisition included all mining, exploration and miscellaneous titles that comprise the Speewah fluorite project and the Speewah vanadium titanomagnetite project.
Tivan agreed to pay KRR $20m, comprised of $10m in cash and $10m equivalent of shares in Tivan.
Tivan executive chairman Grant Wilson says the acquisition of Speewah was a transformative event for Tivan, providing the company with the foundation to build a company of strategic importance across northern Australia.
“We are pleased to have fully paid down the cash consideration today,” he said.
“This strengthens Tivan’s balance sheet and supports our proposed joint venture for the Speewah fluorite project with Sumitomo Corporation.”
All cash consideration owed by Tivan to KRR has now been paid, ahead of the payment due date of February 17, 2025.