Tivan (TVN) Q4 2026 earnings summary

Executive summary

• Signed MoUs with Sumitomo Corporation and ETFS Capital for up to $50m in equity investment to advance the Molyhil Tungsten Project, with Tivan retaining 82.5% at FID.

• Completed a Scoping Study for Molyhil confirming robust economics: pre-tax NPV8 $534.3m, IRR 114.2%, payback 0.8 years.

• Advanced Speewah Fluorite Project with successful mini-pilot and product specification, confirming premium acidgrade fluorspar suitable for hydrofluoric acid production.

• Entered binding term sheets for joint ventures with Murak Rai Timor for Baucau and Ossu Projects in Timor-Leste.

• Raised $9.59m via option underwriting and $5m placement, ending the quarter with $20.67m cash, increasing to $29.86m post-quarter.

Financial highlights

• Payments for engineering, exploration, and evaluation activities totaled $5.646m for the quarter.

• Total cash reserves at 30 June 2026 were $20.67m, rising to $29.86m after post-quarter financing.

• Net cash used in operating activities was $(1.513)m; net cash used in investing activities was $(5.968)m.

• Raised $5m from share issues and $822k from option exercises during the quarter.

• Estimated quarters of funding available: 2.88.

Outlook and guidance

• Final Investment Decision for Speewah Fluorite Project targeted for Q4 2026; DFS underway.

• Molyhil Tungsten Project targeting FID in Q4 2027; Pre-Feasibility Study in progress.

• Ongoing fieldwork and drilling at Molyhil, Sandover, and Timor-Leste projects to expand resources and define new targets.