Highlights

  • The Speewah Fluorite Project received an updated resource estimate in November 2026.
  • The company reported 12,809 metres of drilling at Speewah in 2026 by mid-September.
  • A March feasibility study supported further Speewah development planning.
  • Molyhil and Timor-Leste projects added other technical workstreams.

Tivan Limited (ASX:TVN) is an Australian critical-minerals developer with fluorite, tungsten and exploration interests. Its project portfolio includes Speewah in Western Australia, Molyhil and Sandover in the Northern Territory, and mineral exploration areas in Timor-Leste. Tivan shares closed at AUD 0.155 on 5 November 2026. The company’s 2026 reports centre on technical studies and drilling at Speewah, together with work to progress other Assets through exploration, permitting and commercial preparation.

Speewah Fluorite Project

Tivan published a feasibility study for Speewah in March 2026 and subsequently pursued drilling to improve information for mine planning, metallurgical work and the project’s mineral estimates. Its September update reported 12,809 metres completed during 2026, including infill, metallurgical, exploration and geotechnical drilling. At that stage a further 1,275 metres was planned. These different drilling types answer different questions: infill holes refine geological confidence, while geotechnical and metallurgical samples inform slope designs and processing assumptions. A planned drilling total is not equivalent to metres already drilled.

Resource Updates and Project Decisions

In early November 2026, Tivan announced an upgrade to the Speewah Fluorite Mineral Resource Estimate. The project’s earlier 2026 estimate comprised indicated and inferred mineralisation, classifications that must be interpreted separately from Ore Reserves. The company has described an intended route from further resource work toward a maiden reserve and more detailed project design. Updated geological confidence must also be supported by appropriate technical evaluation before mine plans can be finalised. Even where a feasibility study has been completed, a final Investment decision depends on the relevant partners, commercial arrangements, cost estimates and readiness to execute. The value of the November update lies in its mineral-inventory framework, not proof that a mine is already in production. The company must also reconcile updated geological data with process design and the planned mine sequence, which can alter subsequent engineering requirements.

Other Projects and Exploration

Tivan reported further fluorite drilling results from Sandover in September, including 18 metres at 25.1% calcium fluoride from 30 metres in one reported hole. This is a drill intersection, not a reserve or statement of true mineralised width. In April the company released a scoping study for the Molyhil tungsten project and in September discussed its development approval pathway. It also reported mineral exploration and concession activity at Baucau and Turiscai in Timor-Leste. The assets differ in Maturity and Commodity focus; findings in one area should not be assumed to establish the economic viability of the others.

Funding, Execution and Risks

The Speewah development plan involves engineering, processing design, electricity and transport arrangements, environmental management and the availability of capital. Tivan has outlined joint-venture arrangements for Speewah, making partner decisions material to project timing. Exploration work in other jurisdictions adds different permitting and operating considerations. Fluorite Demand and pricing, metallurgical recoveries and infrastructure expenditure can affect the ultimate Economics of proposed production. Future disclosure should establish which Capital commitments are binding, whether study assumptions change and when construction prerequisites are completed. Tivan Limited (ASX:TVN) should not be assessed as though all proposed projects have reached the same development stage.

Key Insights

For Tivan Limited (ASX:TVN), 2026 brought a Speewah feasibility study, substantial drilling and another resource update, alongside work on Sandover, Molyhil and overseas exploration. The next decision points concern reserves, detailed engineering, financing and project execution. Drilling results and study estimates remain distinct from commissioned production.