Tivan Signs MOUs for Development of Northern Territory Project
MT Newswires Live
Jun 24
Tivan (ASX:TVN) signed memoranda of understanding (MOU) with trading firm Sumitomo and venture capital firm ETFS Capital detailing terms for the planned development, financing, operation, and marketing of the Molyhil project in the Northern Territory through an incorporated joint venture, according to a Wednesday filing with the Australian bourse.
The MOUs establish a framework to agree up to AU$50 million of stage-gated investment for the project, with the company to retain an effective 82.5% project interest at a final investment decision, the filing said.
Binding agreements and regulatory approvals are expected to be completed by the third quarter, per the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.