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Tivan Limited
(Sydney:TVN)
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Rating:44Neutral
Price Target:
AU$0.27
â–²(16.09% Upside)
Action:Reiterated
Date:07/18/26
The score is primarily weighed down by weak financial performance—ongoing losses and persistent negative operating/free cash flow—despite a low-leverage balance sheet. Technicals add further pressure given the price sitting below major moving averages, while valuation is also constrained by a negative P/E and no dividend yield data.
Positive Factors
Low Leverage Balance Sheet
A very low debt-to-equity ratio (~0.02) and positive equity provide structural financial flexibility for a project developer. This reduces default risk and preserves capacity to raise project financing or structure joint ventures without immediate solvency pressure, supporting longer-term execution options.
Negative Factors
Persistent Operating Losses
Repeated operating losses indicate the business has not yet demonstrated the ability to generate sustainable earnings from project operations. Over time, continued losses degrade cash reserves and investor flexibility, making it harder to fund development stages or attract favourable long-term partners.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage Balance Sheet
A very low debt-to-equity ratio (~0.02) and positive equity provide structural financial flexibility for a project developer. This reduces default risk and preserves capacity to raise project financing or structure joint ventures without immediate solvency pressure, supporting longer-term execution options.
Read all positive factors
Tivan Limited (TVN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$492.17M
Dividend YieldN/A
Average Volume (3M)2.91M
Price to Earnings (P/E)―
Beta (1Y)1.38
Revenue GrowthN/A
EPS Growth92.57%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,343,650,000
10 Day Avg. Volume3,287,147
30 Day Avg. Volume2,907,360
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)4.47
Price to Sales (P/S)2512.70
P/FCF Ratio-13.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Tivan Limited Business Overview & Revenue Model
Company Description
Tivan Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Australia. It explores for critical mineral, fluorite, vanadium, titanium, silver, lead, copper, tungsten, and lithium ...
How the Company Makes Money
TVN’s expected revenue model is primarily tied to commercializing its resource projects, typically through (a) selling produced commodities (e.g., concentrate or processed product) once a project is financed, built, and operating; and/or (b) monet...
Tivan Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -9.00K | 69.00K | 0.00 | 75.00K | 0.00 | 184.00K |
| Gross Profit | -91.00K | 69.00K | -523.00K | -405.00K | -342.00K | -147.00K |
| EBITDA | -9.06M | -7.18M | -62.44M | -6.59M | -4.54M | -2.56M |
| Net Income | -6.61M | -4.91M | -67.83M | -7.08M | -4.89M | -2.90M |
Balance Sheet | ||||||
| Total Assets | 72.04M | 43.74M | 27.65M | 81.52M | 73.40M | 66.12M |
| Cash, Cash Equivalents and Short-Term Investments | 11.92M | 6.46M | 378.00K | 1.30M | 14.64M | 12.03M |
| Total Debt | 844.00K | 666.00K | 3.57M | 212.00K | 111.00K | 253.00K |
| Total Liabilities | 13.44M | 4.96M | 13.82M | 9.59M | 2.55M | 2.84M |
| Stockholders Equity | 53.32M | 38.79M | 13.83M | 71.92M | 70.85M | 63.28M |
Cash Flow | ||||||
| Free Cash Flow | -14.76M | -13.29M | -8.71M | -12.38M | -8.61M | -9.16M |
| Operating Cash Flow | -4.74M | -4.74M | -4.32M | -4.79M | -3.26M | -2.15M |
| Investing Cash Flow | -16.91M | -13.71M | -8.31M | -8.28M | -5.38M | -7.02M |
| Financing Cash Flow | 30.98M | 24.53M | 11.71M | -76.00K | 11.65M | 11.98M |
Tivan Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | AU$153.28M | -5.28 | -54.77% | ― | -4.13% | 5.02% | |
44 Neutral | AU$492.17M | -65.63 | -14.35% | ― | ― | 92.57% | |
44 Neutral | AU$243.80M | -0.84 | -30.65% | ― | 6.78% | 32.51% | |
44 Neutral | AU$116.57M | -41.67 | -19.34% | ― | ― | 62.50% | |
43 Neutral | AU$152.31M | -43.04 | -8.00% | ― | ― | 19.81% | |
41 Neutral | AU$28.90M | -1.29 | -107.26% | 26.19% | ― | 71.99% |
* Basic Materials Sector Average
AU:TVN
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Tivan Limited Corporate Events
Tivan strengthens executive ranks ahead of key project deliveries
Jul 21, 2026
Tivan Limited has formed a new Executive Team led by Executive Chairman Grant Wilson to drive project execution of its Speewah Fluorite and Molyhil Tungsten projects and boost firmwide productivity. The team includes newly appointed Chief Executiv...
Tivan Raises $9.6m Through Underwritten Option Share Issue
Jul 7, 2026
Tivan Limited has issued 31,964,736 fully paid ordinary shares following the expiry of its listed TVNO options, under an underwriting agreement with Evolution Capital to backstop up to $10 million of unexercised options. The placement, priced at $...
Tivan Seeks ASX Quotation for 31.9 Million New Shares
Jul 7, 2026
Tivan Limited has applied to the ASX for quotation of 31,964,736 new ordinary fully paid shares, to be issued on 8 July 2026 under its existing securities program. The application, lodged as an Appendix 2A, formalises the admission of these securi...
Tivan scraps conditional placement after option shortfall
Jul 7, 2026
Tivan Limited has updated its previously announced proposed securities placement, informing the market that a conditional placement will now not proceed. The decision stems from an option exercise shortfall that exceeded AUD5 million, triggering c...
Tivan Announces Vesting of More Than 10 Million Performance Rights
Jul 6, 2026
Tivan Limited has confirmed that 10,333,348 Class B Performance Rights granted to employees and certain directors under its Awards Plan vested on 1 July 2026 and may be exercised into ordinary shares until 31 December 2026. The company will notify...
Tivan director Guy Debelle reshapes equity holdings through option exercise
Jul 2, 2026
Tivan Limited has reported changes to director Guy Debelle’s interests in the company’s securities, reflecting an adjustment in his equity exposure. The update details movements among ordinary shares, bonus options, TVNO instruments an...
Tivan Director Adjusts Equity Holdings Through Option Exercise
Jul 2, 2026
Tivan Limited has disclosed a change in director Christine Charles’ interests in the company’s securities, following the exercise of bonus options and the expiry of TVNO instruments. Her holding of ordinary shares increased from 347,22...
Tivan director Grant Wilson updates ASX on expiry of 10 million TVNO securities
Jul 2, 2026
Tivan Limited has reported a change in the indirect interests of director Grant Francis Wilson, detailing adjustments to his holdings through various associated entities. The disclosure notes the expiry and consequent disposal of 10,000,000 TVNO s...
Tivan Limited Seeks ASX Quotation for Additional Ordinary Shares
Jul 2, 2026
Tivan Limited has lodged an application with the ASX for the quotation of 552,560 ordinary fully paid shares under its existing ticker TVN, with an issue date of July 2, 2026. The move reflects routine capital management activity and slightly incr...
Tivan Issues New Shares to ETFS Capital Under ASX Placement Capacity
Jun 30, 2026
Tivan Limited has issued 16,666,667 fully paid ordinary shares at $0.30 each to ETFS Capital Limited under its existing placement capacity. The placement, conducted without a prospectus under the Corporations Act provisions, provides additional ca...
Tivan Limited Seeks ASX Quotation for Additional Ordinary Shares
Jun 30, 2026
Tivan Limited has applied for quotation on the ASX of 765,045 ordinary fully paid shares under its TVN ticker. The new securities, issued on June 30, 2026, expand the company’s tradable share base and may modestly enhance liquidity for exist...
Tivan director adjusts indirect holdings in year-end portfolio rebalance
Jun 30, 2026
Tivan Limited has disclosed changes in the indirect shareholdings of director Grant Francis Wilson, detailing movements across several associated entities between 24 June and 30 June 2026. The filing outlines small on-market transactions, includin...
Tivan Seeks ASX Quotation for 16.7 Million New Shares
Jun 30, 2026
Tivan Limited has lodged an application with the ASX for quotation of 16,666,667 ordinary fully paid shares under its existing TVN ticker. The securities were issued as part of transactions previously flagged to the market, and the company has con...
Tivan Posts Replay of Investor Briefing on 2H 2026 Outlook
Jun 25, 2026
Tivan Limited has released an online replay of an investor briefing hosted by Executive Chairman Grant Wilson, held on 25 June, in which he updated shareholders on recent company developments. The session also outlined management’s expectati...
Tivan Schedules Online Briefing to Outline 2H 2026 Outlook
Jun 25, 2026
Tivan Limited has announced that Executive Chairman Grant Wilson will host an online investor briefing to update shareholders on recent company developments and provide an outlook for the second half of 2026. The briefing signals the board’s...
Tivan strikes Aboriginal investment pact to advance Molyhil tungsten project
Jun 24, 2026
Tivan Limited has signed a Memorandum of Understanding with Aboriginal Investment NT to explore collaboration on the Molyhil Tungsten Project, about 220km north-east of Alice Springs, and other future resource opportunities in the Northern Territo...
Tivan Secures Up to $50m JV Funding Framework for Molyhil Tungsten Project
Jun 24, 2026
Tivan Limited has signed key terms memorandums of understanding with Sumitomo Corporation and ETFS Capital to form an incorporated joint venture for the Molyhil Tungsten Project in the Northern Territory. The proposed structure contemplates up to ...
Tivan cancels 500,000 lapsed performance rights
Jun 23, 2026
Tivan Limited has disclosed the lapse of 500,000 performance rights, identified as TVNAA, following the non-satisfaction of the conditions attached to these securities. The cessation, effective 19 June 2026, reflects an adjustment to the company&#...
Tivan Issues 3.7 Million Unquoted Performance Rights Under Incentive Scheme
Jun 23, 2026
Tivan Limited has issued 3.7 million unquoted performance rights under its employee incentive scheme, with the securities designated as TVNAA and recorded as issued on 22 June 2026. These performance rights are subject to transfer restrictions and...
Tivan Seeks Trading Halt Ahead of Molyhil Joint Venture and Collaboration Deal
Jun 23, 2026
Tivan Limited has requested and been granted a trading halt on its ASX-listed securities, with the halt to remain in place until either the release of a pending announcement or the start of normal trading on 25 June 2026. The company says it is pr...
Tivan seeks ASX quotation for 752,784 new ordinary shares
Jun 10, 2026
Tivan Limited has applied for quotation of 752,784 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of June 10, 2026. The additional securities, arising from the exercise or conversion of existing instrument...
Tivan Wins NT Grant and Advances Molyhil Tungsten Project, JV Talks
Jun 9, 2026
Tivan Limited has secured a A$141,237 exploration grant from the Northern Territory Government’s Geophysics and Drilling Collaborations program to fund three diamond drill holes at its Molyhil Tungsten Project. The drilling will target skarn...
Tivan Rebrands Fluorite Entities as Speewah Project Advances Toward Offtake Deal
Jun 8, 2026
Tivan has advanced its Speewah Fluorite Project by rebranding its project entities to underscore its strategic partnership with Sumitomo and Japanese stakeholders. The project owner has been renamed Japan Australia Fluorite Associates (JAFA), whil...
Tivan plans major share placement to raise new equity capital
Jun 2, 2026
Tivan Limited has notified the ASX of its plan to issue up to 33,333,334 ordinary fully paid shares under a proposed placement or similar type of securities issue. The new securities are expected to be issued on 21 July 2026, signaling a forthcomi...
Tivan Plans New Equity Placement of 33.3 Million Shares
Jun 2, 2026
Tivan Limited has notified the ASX of its intention to conduct a new placement of ordinary fully paid shares. The company has lodged an Appendix 3B outlining a proposed issue of up to 33,333,334 TVN securities, with a targeted issue date of 21 Jul...
Tivan locks in $15m funding to accelerate Australian and Timor-Leste projects
Jun 2, 2026
Tivan Limited has secured a minimum $15 million funding package by partially underwriting the exercise of its listed TVNO options and arranging a share placement with strategic investor ETFS Capital. Evolution Capital will underwrite up to $10 mil...
Tivan hits premium acid-grade fluorspar benchmark in Speewah pilot
May 31, 2026
Tivan Limited has completed a mini-pilot plant program at its Speewah Fluorite Project, producing 195 kilograms of acid-grade fluorspar with an average grade of 98.6% CaF2, above the industry benchmark of 97%. The results confirm the project’...
Tivan sets June 2026 expiry for ASX-listed options
May 28, 2026
Tivan Limited has notified holders of its listed options, trading under ASX code TVNO, that these securities, exercisable at $0.30 each, will expire at 5:00 p.m. WST on 30 June 2026, with their official quotation ceasing on 24 June 2026. Option ho...
Tivan advances Timor-Leste copper-gold hunt with strong Turiscai assays
May 26, 2026
Tivan Limited has reported highly anomalous copper and gold results from a regional stream sediment sampling program at its Turiscai Project in Timor-Leste, with assays returning up to 434 ppm copper and 0.801 ppm gold alongside elevated silver, b...
Tivan Seeks ASX Quotation for 399,459 New Ordinary Shares
May 26, 2026
Tivan Limited has applied to the Australian Securities Exchange for quotation of 399,459 new ordinary fully paid shares under its code TVN. The new securities, issued on 26 May 2026 following the exercise or conversion of existing instruments, wil...
Tivan Seeks Quotation for New Share Issue on ASX
May 12, 2026
Tivan Limited has applied to the Australian Securities Exchange for quotation of 138,095 new ordinary fully paid shares. The securities, issued on May 12, 2026, result from the exercise or conversion of existing options or other convertible instru...
Tivan Limited Seeks ASX Quotation for New Ordinary Shares
May 5, 2026
Tivan Limited has applied to the ASX for quotation of 279,530 new ordinary fully paid shares, to be issued on 5 May 2026. The relatively small share issuance reflects routine capital management, modestly expanding the company’s listed equity...
Tivan Releases Replay of Investor Briefing on Project Portfolio
May 3, 2026
Tivan Limited has released a replay of an online investor briefing hosted by Executive Chairman Grant Wilson, providing key updates across the company’s project portfolio and including an AMA session for stakeholders. The availability of the...
Tivan Schedules Online Briefing After Key Fluorite and Tungsten Study Milestones
May 1, 2026
Tivan Limited’s Executive Chairman, Grant Wilson, will host an online investor briefing today to update shareholders on the company’s key projects, following completion of a feasibility study for the Speewah Fluorite Project and a scop...
Tivan and NT Government form control group to fast-track Molyhil tungsten project
Apr 29, 2026
Tivan Limited has formed a Project Control Group with the Northern Territory Government to fast-track the development of its Molyhil Tungsten Project in Central Australia. Chaired by the Department of Mining and Energy, the cross-agency body is de...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.