Tivan Limited (ASX: TVN) has completed the acquisition of 100% of the Molyhil Tungsten-Molybdenum Project in the Northern Territory, clearing the way for accelerated development and near-term drilling.
The project is located about 220 kilometres north-east of Alice Springs, adjacent to Tivan’s Sandover Fluorite Project, consolidating the company’s footprint in what it describes as a growing critical minerals precinct in central Australia.
Map showing Molyhil Project tenements and adjacent Sandover Fluorite Project.
Established tungsten and molybdenum resource base
Molyhil hosts a JORC Code (2012) Measured, Indicated and Inferred Mineral Resource of 4.647 Mt at 0.26% WO₃ and 0.09% Mo, reported at a 0.05% WO₃ cut-off grade.
This equates to contained metal of 12,100 t of tungsten trioxide and 4,400 t of molybdenum, providing Tivan with a defined starting point as it looks to expand the resource and progress development studies.
The project also includes an operational production water bore, considered a key piece of infrastructure for future development.
Acquisition terms and consideration structure
Tivan agreed to acquire the project in September 2025 through a binding term sheet with subsidiaries of Investigator Silver Limited and Thor Energy Plc.
Total consideration is $8.75 million, comprising:
- $3.5 million in upfront cash payments, now paid in full
- $5.25 million in deferred payments, payable over 3 annual instalments, commencing 12 months from signing
Up to 50% of the deferred consideration can be settled in shares at Tivan’s election.
As part of the transaction, Tivan also acquired all mineral rights held by the vendors across tenements that form part of the adjacent Sandover Fluorite Project.
Development planning moves into fast-track mode
Tivan said it is rapidly advancing development planning at Molyhil in parallel with preparations for drilling.
A preliminary commercial assessment has now been completed, supporting a Scoping Study targeted for completion in April 2026, ahead of a planned Pre-Feasibility Study.
The company has also completed an independent review of the existing mineral resource, designed a preliminary metallurgical testwork program to support flowsheet development, and commenced environmental approvals pathway scoping.
Engagement with the Central Land Council (CLC) is ongoing to support cultural heritage and land access requirements.
Drilling program scheduled for March 2026
An initial drilling program of 13 holes for 1,950 m is planned across 4 tungsten targets outside the existing resource area.
The targets were generated from detailed ground gravity surveying completed in late 2023, supported by historical magnetic data, with known mineralisation exhibiting the same geophysical signature.
Tivan is targeting a March start for exploration drilling, subject to regulatory approvals, with a broader drilling campaign aimed at supporting project development scheduled for Q3 2026.
Clear approvals pathway and community engagement
An application for an environmental mining licence for exploration has been lodged with the Northern Territory Department of Lands, Planning and Environment to cover drilling and related ground-disturbing activities.
The CLC has confirmed the relevant Sacred Site Clearance Certificate remains valid, and Tivan is working to modernise land access arrangements consistent with existing exploration deeds across the broader Sandover project area.
In parallel, the company is progressing a Community Development proposal in the Harts Range region, with an agreement targeted for finalisation in Q1 2026.
Initial Molyhil Project schedule.
Strategic backdrop: critical minerals exposure
Tivan noted that both tungsten and molybdenum are recognised as critical or strategic minerals across all major jurisdictions and are currently subject to export restrictions in China.
The metals are used across the defence, automotive, semiconductor and clean energy sectors, underscoring their strategic importance amid increasing focus on secure supply chains.
Executive chairman Grant Wilson said the acquisition positions Molyhil as a cornerstone asset for the company’s central Australian growth strategy, anchoring Tivan’s broader ambitions in the critical minerals space.