Tivan (ASX:TVN) finalised its 100% acquisition of the Baucau and Ossu projects, marking an expansion into Southeast Asia's mineral landscape.
Following a binding agreement initiated in November 2025 with Beacon Minerals (ASX:BCN), the company has secured six exploration and evaluation licenses covering 289km2.
The strategic site is located approximately 123km east of the capital, Dili, in a region considered highly prospective for copper, cobalt, gold, and other critical minerals.
The acquisition was completed through a combination of $250,000 in cash and the issuance of over 1.47 million Tivan shares.
Tivan has signed a non-binding term sheet with Murak Rai Timor, EP, Timor-Leste’s state-owned mining entity, to form a joint venture.
The partnership aims to align corporate structuring with national interests as the project moves toward formal development.
With regulatory approvals from the Autoridade Nacional dos Minerais secured, Tivan's geology team has already commenced a regional-scale field validation program.
The initial phase involves detailed mapping and surface sampling—including rock chip and soil analysis—at sites of historical mineralisation.
"We are targeting early Q2 2026 for the first batch of initial assay results," the company stated, noting that samples are being prepared for laboratory analysis to confirm the site's resource potential.
At the time of reporting, Tivan’s share price was $0.44.