http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Fri, 20 Jul 2018 22:36:00 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Tawana Resources ships first batch of Bald Hill lithium concentrate to China ]]> http://www.proactiveinvestors.com.au/companies/news/196306/tawana-resources-ships-first-batch-of-bald-hill-lithium-concentrate-to-china-196306.html Tawana Resources NL (ASX:TAW) and Alliance Mineral Assets (SGX:40F) have shipped the first batch of spodumene (lithium) concentrate from the Bald Hill lithium and tantalum mine. 

The shipment of about 3,250 metric tonnes of lithium concentrate was loaded at the Port of Esperance and is destined for the Port of Zhenjiang in China. 

The lithium concentrate from Bald Hill is sold under offtake agreements with Hong Kong based Burwill Commodity Limited.  

READ: Tawana Resources delivers first production of spodumene in Australia since 2016

The Bald Hill lithium and tantalum mine in the eastern goldfields of Western Australia is a 50:50 joint venture between Tawana and Alliance.

The first shipment of lithium concentrate follows the successful commissioning and the continued ramp‐up of the Bald Hill Project, with production commencing in March 2018. 

A second larger shipment of Bald Hill concentrate is expected in May 2018.

Prepaid offtake agreements secured

Each of Tawana and Alliance executed separate offtake agreements in April 2017 for the supply of lithium concentrate from Bald Hill over a five-year term.

Pricing for 2018 and 2019 is US$880 per tonne free on board Esperance for 6% lithium.

The prepayments from the offtake agreements are being used towards the capital costs of the project.

]]>
Thu, 03 May 2018 15:26:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196306/tawana-resources-ships-first-batch-of-bald-hill-lithium-concentrate-to-china-196306.html
<![CDATA[News - Tawana Resources delivers first production of spodumene in Australia since 2016 ]]> http://www.proactiveinvestors.com.au/companies/news/193187/tawana-resources-delivers-first-production-of-spodumene-in-australia-since-2016-193187.html Tawana Resources N.L.’s (ASX:TAW) shares soared 15% on Wednesday after the company confirmed that it had commenced production of lithium concentrate at Bald Hill.

The Bald Hill lithium and tantalum mine in the eastern goldfields of Western Australia is a 50:50 joint venture between Tawana and Alliance Mineral Assets Ltd (SGX:40F).

Successful commissioning of DMS circuit

The spodumene (lithium) concentrate production is the result of ore commissioning through the newly constructed dense media separation (DMS) circuit.

READ: Tawana Resources on track to commence lithium production at Bald Hill

The DMS will be ramped up to full production run rate over several months.

This is an important milestone for both Tawana and the broader industry given that Bald Hill is the first Australian mine to commence spodumene production since 2016.

Focusing on steady-state production from Stage I

Mark Calderwood, managing director said: “It is a great effort by everybody involved to take Bald Hill from maiden lithium resource to production in nine months including only seven months of construction from the ground up.

“The focus now is to achieve steady state production from the Stage I DMS circuit, and optimise lithium yields.

“Concurrently, we will work on completion of the Stage II lithium fines circuit design and re-commissioning of the tantalum circuits.”

Offtake agreements secured

Each of Tawana and Alliance executed separate offtake agreements in April 2017 for the supply of lithium concentrate from Bald Hill over a five-year term.

Pricing for 2018 and 2019 is US$880 per tonne free on board Esperance for 6% lithium.

The prepayments from the offtake agreements are being used towards the capital costs of the project.

Canaccord price target implies upside of 20%

Reg Spencer, Canaccord Genuity analyst is of the view that the company will ramp up to initial nameplate rates of 150,000 tonnes per annum by September 2018.

He also is forecasting that production will increase to 200,000 tonnes per annum by early 2019.

Based on offtake pricing and Spencer’s costing model he noted that the company should be trading on an enterprise value to underlying earnings multiple of about three in fiscal 2019.

He views this as conservative, and based on his projections a share price target of 60 cents per share is warranted.

]]>
Thu, 15 Mar 2018 08:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193187/tawana-resources-delivers-first-production-of-spodumene-in-australia-since-2016-193187.html
<![CDATA[News - Tawana Resources enters trading halt ahead of revealing tantalum offtake partner ]]> http://www.proactiveinvestors.com.au/companies/news/190588/tawana-resources-enters-trading-halt-ahead-of-revealing-tantalum-offtake-partner-190588.html Tawana Resources NL (ASX:TAW) has been granted a trading halt by the ASX pending disclosure of the identity of a party to the company’s tantalum offtake term sheet.

Its shares have been placed in pre-open and the halt will remain in place until the opening of trade on Tuesday 30 January 2018 or earlier if an announcement is made to the market.

Tawana has executed a term sheet for the offtake of tantalum concentrate from the Bald Hill Lithium and Tantalum Mine in the Eastern Goldfields of Western Australia.

READ: Tawana Resources on track to commence lithium production at Bald Hill

Bald Hill is a 50:50 joint project between Tawana and Alliance Mineral Assets Ltd (SGX:40F).

The companies have awarded a $30 million engineering, procurement and construction contract to build the dense media separation process plant to the Primero Group.

The project has a maiden lithium ore reserve of 4.3 million tonnes at 1.18% lithium and 208 ppm tantalum.

Work on upgrading the reserve is underway and results are expected this quarter.

]]>
Thu, 25 Jan 2018 13:39:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190588/tawana-resources-enters-trading-halt-ahead-of-revealing-tantalum-offtake-partner-190588.html
<![CDATA[News - Tawana Resources on track to commence lithium production at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/189922/tawana-resources-on-track-to-commence-lithium-production-at-bald-hill-189922.html Tawana Resources NL (TAW:ASX) is on track with lithium concentrate production to commence this quarter at the Bald Hill Lithium and Tantalum Mine in the Eastern Goldfields of Western Australia.

Bald Hill is a 50:50 joint project between Tawana and Alliance Mineral Assets Ltd (SGX:40F).

The companies have awarded a $30 million engineering, procurement and construction (EPC) contract to build the dense media separation (DMS) process plant to the Primero Group.

DMS plant construction activities progressing

The plant construction activities have advanced with steelwork installation nearing completion, piping and electrical cabling advancing and power station installed and partly commissioned.

Importantly, mining is ramping up with daily movements reaching 16,000 cubic metres per day with personnel levels on site peaking at over 200.

The construction of haul roads and laydown areas are essentially complete.

Reserve upgrade due this quarter

The Bald Hill project currently has a maiden lithium ore reserve of 4.3 million tonnes at 1.18% lithium and 208 ppm tantalum.

The work on upgrading the reserve is underway and results are expected this quarter.

The pre-feasibility study for the project, being the initial “starter pit”, contemplates net cash flow before tax of $223 million and a net present value of $150 million.

It is worth noting that Bald Hill is projected to achieve an internal rate of return of 185% with a payback period of only circa 12 months.

]]>
Fri, 12 Jan 2018 12:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189922/tawana-resources-on-track-to-commence-lithium-production-at-bald-hill-189922.html
<![CDATA[News - Tawana Resources has lithium and tantalum news on the radar ]]> http://www.proactiveinvestors.com.au/companies/news/185753/tawana-resources-has-lithium-and-tantalum-news-on-the-radar-185753.html Tawana Resources NL (ASX:TAW) recently lifted hosted resource at the Bald Hill Lithium and Tantalum Mine, located in the Eastern Goldfields region of Western Australia.

The 25 million tonne resource hosts a high-grade segment of: 18.9 million tonnes at 1.18% lithium and 149ppm tantalum at a 0.5% lithium cut-off.

Tawana has this morning been granted a trading halt by the ASX, pending funding details for the project.

The halt will remain in place until the opening of trade on Friday 20th October 2017, or earlier if an announcement is made to the market.

]]>
Wed, 18 Oct 2017 10:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185753/tawana-resources-has-lithium-and-tantalum-news-on-the-radar-185753.html
<![CDATA[News - Tawana Resources pauses shares for lithium off-take update ]]> http://www.proactiveinvestors.com.au/companies/news/184173/tawana-resources-pauses-shares-for-lithium-off-take-update-184173.html Tawana Resources NL (ASX:TAW) remains focused on the Bald Hill Lithium / Tantalum Project in Western Australia.

Studies have identified Bald Hill as the lowest capital cost lithium project in Australia at $42 million (excluding pre-production operating costs).

Production is scheduled for the March quarter 2018.

Tawana is preparing to provide an update on an off-take agreement, with the ASX granting a trading halt.

The halt will remain in place until the opening of trade on Thursday 21st September 2017, or earlier if an announcement is made to the market.

]]>
Tue, 19 Sep 2017 11:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184173/tawana-resources-pauses-shares-for-lithium-off-take-update-184173.html
<![CDATA[News - Tawana Resources delivers positive lithium test work at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/183550/tawana-resources-delivers-positive-lithium-test-work-at-bald-hill-183550.html Tawana Resources N.L. (ASX:TAW) has revealed encouraging metallurgical test work results from its Bald Hill lithium and tantalum mine located in the Eastern Goldfields of Western Australia.

Following the company’s pre-feasibility study, the metallurgical test work has been focused on ore fines (grains of around 0-10 millimetres in size).

The test work on ore fines delivered positive results from both fine DMS (dense media separation) and flotation tests, highlighting the potential to increase the proposed lithium production during 2018.

The three-stage sighter flotation test work returned a recovery to concentrate of 83% at a concentrate grade of 4.7% lithium.

The average production rate in Tawana’s pre-feasibility study was circa 150,000 tonnes per annum of spodumene concentrate.

Interestingly, based on a 70% recovery, the Phase 2 DMS has the potential to increase spodumene production by 25% with a combined Phase 1 and Phase 2 DMS recovery of about 82.5%.

Bald Hill remains on track to commence commissioning in the first quarter of 2018.

Tawana’s share price increased circa 27% in the past six months, closing at $0.215 on Wednesday.

]]>
Thu, 07 Sep 2017 08:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183550/tawana-resources-delivers-positive-lithium-test-work-at-bald-hill-183550.html
<![CDATA[News - Tawana Resources begins lithium plant construction at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/182492/tawana-resources-begins-lithium-plant-construction-at-bald-hill-182492.html Tawana Resources NL (ASX:TAW) has signed a contract to begin construction of the dense media separation (DMS) process plant at its Bald Hill lithium and tantalum mine.

The project is located 50 kilometres southeast of Kambalda in the Eastern Goldfields of Western Australia.

The Bald Hill project is owned by Alliance Mineral Assets (SGX:40F) with Tawana earning a 50% interest.

Tawana and Alliance have awarded the major $30 million engineering, procurement and construction (EPC) contract to build the DMS process plant to the Primero Group.

Primero was chosen for its expertise in lithium projects across the globe. The company recently commissioned a DMS lithium plant in Western Australia.

The Bald Hill project currently has a maiden lithium ore reserve of 4.3 million tonnes at 1.18% lithium and 208 ppm tantalum.

The pre-feasibility study for the project, being the initial “starter pit”, contemplates net cash flow before tax of $223 million and a net present value (NPV at 10% discount rate) of $150 million.

Importantly, Bald Hill is projected to achieve an internal rate of return of 185% with a payback period of only circa 12 months.

Associated site works and construction have already commenced, and the company remains committed on delivering the first lithium concentrate in Q1 2018.

Tawana’s share price increased by circa 70% during the past three months, closing at $0.23 on Tuesday.

]]>
Wed, 16 Aug 2017 09:17:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182492/tawana-resources-begins-lithium-plant-construction-at-bald-hill-182492.html
<![CDATA[News - Tawana Resources NL reveals robust economics for Bald Hill lithium project ]]> http://www.proactiveinvestors.com.au/companies/news/180642/tawana-resources-nl-reveals-robust-economics-for-bald-hill-lithium-project-180642.html Tawana Resources NL (ASX:TAW) has revealed positive results from the pre-feasibility study (PFS) on its Bald Hill Lithium-Tantalite Project located southeast of Kambalda in Western Australia.

Bald Hill is projected to become a low-cost producer of high-quality spodumene (lithium) concentrates in Q1 2018.

Tawana is forecasting an annual production of circa 155,000 tonnes per annum of spodumene concentrate and 260,000 pounds per annum of tantalum pentoxide, for 3.6 years.

The PFS for the Project, being the initial “starter pit”, contemplates a net cash flow before tax of $223 million and a net present value (NPV at 10% discount rate) of $150 million.

Importantly, Bald Hill is projected to achieve an internal rate of return of 185% with a payback period of only circa 12 months.

Furthermore, the NPV is expected to increase significantly as additional ore reserves are defined.

The project currently has a maiden lithium ore reserve of 4.3 million tonnes at 1.18% lithium and 208 ppm tantalum.

Tawana has estimated average concentrate cash costs (net of tantalum pentoxide by-product credits) of A$508 per tonne (US$381 per tonne).

The capital cost estimate, including a new 1.2 million tonnes per annum plant and upgrades to the existing tantalum plant and infrastructure at the Bald Hill site, is circa $42 million.

The Bald Hill project is owned by Alliance Mineral Assets (SGX:40F) with Tawana earning a 50% interest.

]]>
Tue, 11 Jul 2017 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180642/tawana-resources-nl-reveals-robust-economics-for-bald-hill-lithium-project-180642.html
<![CDATA[News - Tawana Resources NL posts maiden lithium resource at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/179235/tawana-resources-nl-posts-maiden-lithium-resource-at-bald-hill-179235.html Tawana Resources NL (ASX:TAW) has revealed the maiden resource for the Bald Hill Lithium and Tantalum Project in Western Australia.

The project has a high-grade (indicated and inferred) resource of 12.8 million tonnes at 1.18% lithium and 158 ppm tantalum at a 0.5% lithium cut-off.

The maiden resource covers only 20% of the known southern swarm of lithium pegmatites. Ongoing drilling continues to expand the resource footprint.

The Bald Hill project is owned by Alliance Mineral Assets (SGX:40F) with Tawana earning a 50% interest.

Tawana and Alliance are targeting first lithium shipment for Q1 2018.

The companies are in the advanced stages of completing a feasibility study with off-take pricing, metallurgical and process engineering aspects of the study completed.

The substantial maiden resource complements the excellent recoveries from metallurgical test work.

Importantly, the maiden resource satisfies the condition precedent to the second offtake prepayment to be received from Burwill Holdings, due on 15 July 2017.

Tawana and Alliance have committed full 2018 and 2019 lithium ore concentrate produced from the planned Bald Hill Lithium and Tantalum Project with Burwill for a fixed price.

On 15 July 2017, Tawana and Alliance are eligible to receive $4,375,000 each towards offtake prepayment.

Tawana’s share price has almost doubled since the start of 2017, last trading at $0.225.

]]>
Thu, 15 Jun 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179235/tawana-resources-nl-posts-maiden-lithium-resource-at-bald-hill-179235.html
<![CDATA[News - Tawana Resources to reveal maiden lithium resource ]]> http://www.proactiveinvestors.com.au/companies/news/179118/tawana-resources-to-reveal-maiden-lithium-resource-179118.html Tawana Resources (ASX:TAW) has been granted a trading halt by the ASX, pending details regarding the company's maiden lithium resource.

Tawana is focused on the Bald Hill project, located in Western Australia.

The halt will remain in place until the opening of trade on Thursday 15th June 2017, or earlier if an announcement is made to the market.

]]>
Tue, 13 Jun 2017 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179118/tawana-resources-to-reveal-maiden-lithium-resource-179118.html
<![CDATA[News - Tawana Resources NL trebles lithium target area at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/178357/tawana-resources-nl-trebles-lithium-target-area-at-bald-hill-178357.html Tawana Resources NL (ASX:TAW) has trebled the size of the lithium target area originally defined in January 2017 at the Bald Hill project in Western Australia.

The extended area contains the most significant lithium results to date, including:

- 57 metres at 1.62% lithium from 161 metres;
- 38 metres at 1.48% lithium from 134 metres; and
- 24 metres at 1.29% lithium from 135 metres.

The Bald Hill Mine is owned by Alliance Mineral Assets (SGX:40F) with Tawana earning a 50% interest.

Historically, the project area has been explored and mined for tantalum and tin at the Bald Hill and St John prospects.

The Bald Hill Mine comprises of four mining leases, 16 exploration/prospecting licences and five applications totalling 791 square kilometres.

Tawana and Alliance are in the advanced stages of completing a feasibility study with off-take pricing, metallurgical and process engineering aspects of the study completed.

The results of the study are expected to be released within two weeks.

As part of its joint venture arrangement with Alliance, Tawana must spend a minimum of $7.5 million on exploration, evaluation and feasibility by 31 December 2017.

Tawana’s share price has more than doubled since the start of 2017, last trading at $0.245.

]]>
Fri, 26 May 2017 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178357/tawana-resources-nl-trebles-lithium-target-area-at-bald-hill-178357.html
<![CDATA[News - Tawana Resources secures funds to progress Bald Hill lithium farm-in ]]> http://www.proactiveinvestors.com.au/companies/news/176967/tawana-resources-secures-funds-to-progress-bald-hill-lithium-farm-in-176967.html Tawana Resources NL (ASX:TAW) has received commitments to raise $15 million via the issue of shares at $0.25 each, to progress its Bald Hill lithium farm-in project in Western Australia.

The placement was strongly supported by domestic and offshore institutional investors.

Tawana entered into a farm-in agreement with Alliance Mineral Assets (SGX:40F) in February 2017 with respect to Alliance’s Bald Hill lithium project in the Eastern Goldfields.

Upon completion of Tawana’s expenditure commitment of $7.5 million by 31 December 2017, it shall be entitled to 50% of all rights to lithium minerals from the project.

It is worth noting that the placement follows the signing of a binding five-year exclusive lithium concentrate offtake agreement with Hong Kong-listed Burwill Holdings.

The offtake agreement includes a prepayment of $25 million.

Tawana’s share of the prepayment is $12.5 million of which $3.75 million has been received with the final instalments to be received in July 2017 and September 2017.

The funds raised under the placement and offtake prepayment will primarily be used to advance the Bald Hill project in order to meet the projected start of commissioning in late 2017.

The funds will be used to complete resource drilling, ordering long lead capital items, complete detailed design and commence engineering works.

Tawana’s share price has doubled since the start of 2017, last trading at $0.245.

]]>
Thu, 27 Apr 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176967/tawana-resources-secures-funds-to-progress-bald-hill-lithium-farm-in-176967.html
<![CDATA[News - Tawana Resources NL to reveal offtake agreement ]]> http://www.proactiveinvestors.com.au/companies/news/176689/tawana-resources-nl-to-reveal-offtake-agreement-176689.html Tawana Resources NL (ASX:TAW) has been granted a trading halt by the ASX, pending details of an offtake agreement.

Tawana's Bald Hill project is located 75 kilometres from the Mt Marion Lithium project in Western Australia.

The halt will remain in place until the opening of trade on Wednesday 26th April 2017, or earlier if an announcement is made to the market.

]]>
Fri, 21 Apr 2017 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176689/tawana-resources-nl-to-reveal-offtake-agreement-176689.html
<![CDATA[News - Tawana Resources NL moves into lithium farm-in at Bald Hill ]]> http://www.proactiveinvestors.com.au/companies/news/173653/tawana-resources-nl-moves-into-lithium-farm-in-at-bald-hill-173653.html Tawana Resources NL (ASX:TAW) has signed a farm-in agreement with Alliance Mineral Assets (SGX:40F) for the purpose exploring the Bald Hill Lithium and Tantalum Project.

The project is located 50 kilometres from Kambalda in Western Australia.

The farm-in requires Tawana to spend, by 31 December 2017, a minimum of $7.5 million on exploration, evaluation and feasibility studies.

Tawana is also required to spend, by 31 December 2019, $12.5 million in capital expenditure required for upgrading and converting the plant for processing ore derived from the project.

This will include infrastructure costs, pre-stripping activities and other expenditures including operating costs.

Upon completion of the expenditure commitment, Tawana shall be entitled to 50% of all rights to the minerals from the tenements comprising the Bald Hill project.

Tawana is focused on becoming a spodumene producer in 2017 with its high-quality lithium projects in Western Australia and Namibia.

The company’s principal projects are the Bald Hill Lithium and Tantalum Mine and the surrounding and adjacent Cowan Lithium Project. 

The projects have numerous high quality spodumene-rich pegmatites, some of which have been historically mined and processed for tantalum at the existing Bald Hill processing facility.

Tawana also owns rights to the giant Uis pegmatite tailings stockpile in Namibia, estimated to be 20 million tonnes. 

Drilling has been completed at the project, confirming the presence of lithium.

Tawana’s share price has increased by about 39% since the start of 2017, last trading at $0.16.

The company is well funded with a cash balance of circa $7 million as at 31 December 2016.

]]>
Fri, 24 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173653/tawana-resources-nl-moves-into-lithium-farm-in-at-bald-hill-173653.html
<![CDATA[News - Tawana Resources gets ready to pounce ]]> http://www.proactiveinvestors.com.au/companies/news/167673/tawana-resources-gets-ready-to-pounce-167673.html The halt will remain in place until the opening of trade on Monday 24th October 2016, or earlier if an announcement is made to the market.

]]>
Thu, 20 Oct 2016 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167673/tawana-resources-gets-ready-to-pounce-167673.html
<![CDATA[News - Tawana Resources NL acquires lithium project in Namibia ]]> http://www.proactiveinvestors.com.au/companies/news/166348/tawana-resources-nl-acquires-lithium-project-in-namibia-71181.html Tawana Resources NL (ASX:TAW) has entered into an agreement to acquire the mining rights to the Uis pegmatite tailings stockpile in Namibia.

The Uis Project represents an estimated 20 million tonne of tailings stockpile derived from one of the largest pegmatite tin mines in the world.

Tawana has entered into an agreement to purchase all the shares of a company which has optional mining rights to the Uis pegmatite tailings stockpile.

The consideration for the transaction is $100,000 in cash and up to 15 million shares in Tawana if a decision to mine is taken.

Tawana will also need to pay US$1,875,000 on a staged basis to the owners of the mine before commencing production, along with a 5% net profit interest royalty.

The stockpiles at Uis comprise pegmatite material that was mined by open cut, hauled to a processing plant where the ore was crushed and tin concentrate was extracted by gravity.

The pegmatites contained significant quantities of tantalum minerals, much of which is believed to remain in the stockpile.

Significantly, no mining is required at the project, which normally represents 30-60% of the operating cost of a mine.

Namibia is a mining friendly jurisdiction which is ranked fourth in Africa on the 2015 Investment Attractiveness Index by the Fraser Institute.

An air core rig is expected to arrive on site in October 2016, with 21 deep holes and 45 shallow holes planned, totalling about 1500 metres.

Tawana’s share price has increased by 233% during the past three months, last trading at $0.11.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 23 Sep 2016 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166348/tawana-resources-nl-acquires-lithium-project-in-namibia-71181.html
<![CDATA[News - Tawana Resources NL commences large lithium drill program ]]> http://www.proactiveinvestors.com.au/companies/news/165912/tawana-resources-nl-commences-large-lithium-drill-program-71033.html Tawana Resources NL (ASX:TAW) has commenced a 10,000 metre reverse circulation drilling program at its wholly owned Cowan lithium project located in the Eastern Goldfields of Western Australia.

Drilling will be undertaken within a large lithium-caesium-tantalum type (LCT) pegmatite belt.

It will test outcropping LCT pegmatites, lithium anomalies identified from RAB drilling and gravity anomalies.

Rock chip sampling completed in the June quarter of 2016 produced grades of up to 3.99% lithium oxide.

The 140 holes will test key areas of interest which are mostly soil covered.

Shares in Tawana are trading up 250% over the past three months.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 15 Sep 2016 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165912/tawana-resources-nl-commences-large-lithium-drill-program-71033.html
<![CDATA[News - Tawana Resources NL among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/162895/tawana-resources-nl-among-asx-gainers-intra-day-69722.html Monday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Tawana Resources NL TAW $0.060 93.55% 1,195,481 Discovery Africa Ltd DAF $0.022 83.33% 454,154 Western Mining Network Ltd WMN $0.005 66.67% 9,920,365 Niuminco Group Ltd NIU $0.003 50% 1,000,000 Regalpoint Resources Ltd RGU $0.012 50% 6,824,999 Namibian Copper NL NCO $0.003 50% 16,700,000 Norwest Energy NL NWE $0.003 50% 4,917,340 Black Rock Mining Ltd BKT $0.145 45% 2,451,305 Spectrum Rare Earths Ltd SPX $0.007 40% 580,000 Centaurus Metals Ltd CTM $0.015 36.36% 23,512,619

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 11 Jul 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162895/tawana-resources-nl-among-asx-gainers-intra-day-69722.html
<![CDATA[News - Tawana Resources NL to reveal acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/162894/tawana-resources-nl-to-reveal-acquisition-69647.html Tawana Resources NL (ASX:TAW) has acquisition news pending, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 8th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 06 Jul 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162894/tawana-resources-nl-to-reveal-acquisition-69647.html
<![CDATA[News - Tawana Resources among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/162893/tawana-resources-among-asx-gainers-intra-day-66524.html Tuesday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume Tawana Resources TAW $0.002 100% 1,406,943 East Energy Resources EER $0.003 50% 13,000 Botswana Metals BML $0.004 33.33% 568,247 Colorpak CKL $0.700 29.63% 45,471 OZ Brewing OZB $0.005 25% 1,126,645 Latrobe Magnesium LMG $0.010 25% 1,780,000 Riedel Resources RIE $0.010 25% 35,294 Environmental Clean Technologies ESI $0.025 25% 22,746,010 Magnetite Mines MGT $0.016 23.08% 236,000 Barra Resources BAR $0.018 20% 1,886,577

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 12 Jan 2016 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162893/tawana-resources-among-asx-gainers-intra-day-66524.html
<![CDATA[News - Tawana Resources marks milestones in African iron plan ]]> http://www.proactiveinvestors.com.au/companies/news/162892/tawana-resources-marks-milestones-in-african-iron-plan-65699.html Tawana Resources (ASX:TAW) has achieved a critical step in advancing development of its Mofe Creek iron project in Liberia with an environmental approval from the local government.

The Environmental Protection Agency of Liberia has approved the annual environmental audit report for the project’s southern licence while also granting a renewal permit for the northern exploration licence.

This news follows on an EPA approval last month for a scoping report and a terms of reference report for an environmental and social impact assessment at the site.

Recent progress at Mofe Creek has also included studies into mine, logistics and infrastructure needs with consideration for an early start-up production scenario for direct shipping ore (DSO).

Preparation of a low capital-intensive exploration program for the qualification and quantification of a recent DSO discovery within the project’s Goehn area has gotten underway.

The DSO mineralisation averages 62.8% iron and up to 66% iron.

Importantly, it is located only a short trucking distance to the operating port of Freeport, Monrovia.

Negotiations on a port infrastructure cooperation agreement have continued to advance, with further commercial and technical meetings held during September in China.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 19 Nov 2015 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162892/tawana-resources-marks-milestones-in-african-iron-plan-65699.html
<![CDATA[News - Tawana Resources delivers key scoping study for iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/162890/tawana-resources-delivers-key-scoping-study-for-iron-ore-project-56025.html Tawana Resources (ASX:TAW) has delivered very robust results from a scoping study into developing its Mofe Creek iron ore product project in Liberia, West Africa.

The project, located in the heart of Liberia’s historic iron ore district, is situated 20 kilometres from the coast and 80 kilometres from the country’s capital city and major port, Monrovia.

Key takeaways from the study were a pre tax IRR of 55.8%, an NPV of US$435 million, Capex of US$52.9 million and Opex of US$40.60 a tonne based on a production throughput of 2.5 million tonnes per annum.

Tawana will, based on the strong study results surely look to hasten discussions with potential strategic partners, off-takers, debt providers and financiers, to fast-track the development of the project.

The overall study results provide a very reasonable project Capex to initial production as well as relatively low Opex - even relative to the current iron ore price.

Which would if developed result in significant operating profit margins, a premium +65% iron ore product and a lifespan of at least 14 years.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 03 Jul 2014 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162890/tawana-resources-delivers-key-scoping-study-for-iron-ore-project-56025.html
<![CDATA[News - Tawana Resources tucks away a tidy capital raising for Liberian work ]]> http://www.proactiveinvestors.com.au/companies/news/162889/tawana-resources-tucks-away-a-tidy-capital-raising-for-liberian-work-54327.html Tawana Resources (ASX: TAW) has completed a handy $5 million capital raising in a challenging capital market to support its Liberian mineral project.

A total of 200 million ordinary shares were issued to investors at a price of $0.025 per share to raise a total of $5 million before costs.

The placement found new investors and long-term investors. A Pre-Feasibility Study for the Mofe Creek iron ore project is underway.

While resource upgrade and associated engineering/design work for Mofe Creek will be supported by the fund raising.

Tawana made a new iron ore discovery in Liberia in the Mofe project; it has a 61.9Mt at 33% iron maiden defined resource.

Of interest, the project is 20km to coast, adjacent to a rail alignment that is 65km to port.

It also has a massive 65km prospective strike, of which only 8km of strike drill has been tested.

 

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 14 Apr 2014 17:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162889/tawana-resources-tucks-away-a-tidy-capital-raising-for-liberian-work-54327.html
<![CDATA[News - Tawana Resources granted trading halt, in pre-open ]]> http://www.proactiveinvestors.com.au/companies/news/162888/tawana-resources-granted-trading-halt-in-pre-open-54123.html Tawana Resources (ASX: TAW) is heading to market with a capital raising, with the ASX granting the company a trading halt today, with its shares placed in pre-open.

Just last month Tawana delivered a maiden Resource for the Mofe Creek Project of 61.9 million tonnes at 33% iron, which is located in the Republic of Liberia, West Africa.

The resource included an Indicated portion of 16.2 million tonnes at 35.4% iron.

The Indicated Resources provides additional confidence in the geological robustness of the project, and is a critical step in allowing the company to assess the technical and economic viability of a proposed 1 to 2 million tonne per annum early start-up operation.

The halt will remain in place until the opening of trade on Tuesday 8th April 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 04 Apr 2014 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162888/tawana-resources-granted-trading-halt-in-pre-open-54123.html
<![CDATA[News - Tawana Resources makes new iron discovery at Zaway, Mofe Creek in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162887/tawana-resources-makes-new-iron-discovery-at-zaway-mofe-creek-in-liberia-52431.html Tawana Resources (ASX:TAW) has discovered multiple high-grade, coarse grained itabirite intersections at the Zaway prospect, part of its Mofe Creek iron project in Liberia.

Significant intersections included 26 metres at 39.5% iron from 6 metres, and 40 metres at 34.6% iron from surface.

Mineralisation was intercepted over 2 kilometres of strike, up to 200 metres wide and open to the east.

Excellent exploration upside remains with over 5 kilometres of strike potential defined from rock chip assays up to 56.7% iron, within 1 kilometre of the Zaway deposit.

Strong continuity is in evidence down and between drill holes with low contaminant levels recorded over mineralised widths.

The itabirite was intersected from surface in the majority of drill holes; visually identical to Tawana's Gofolo Main prospect mineralisation, which is potentially upgradeable to a 60% iron direct shipping ore product.

Notably, the project lies 20 kilometres to coast, adjacent to rail alignment and 65 kilometres to port, which will keep OPEX and CAPEX in the lower ranges.

The region is a premier iron ore district, with the historic 50 million tonne Bomi Hills direct shipping ore mine located 25 kilometres away.

Adding to TAW's value proposition is its Meletse Iron Ore and Avontuur Manganese joint venture, managed by Aquila Resources (ASX:AQA)

A Scoping Study is now underway, and a maiden resource is on track for an early second quarter release.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 03 Feb 2014 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162887/tawana-resources-makes-new-iron-discovery-at-zaway-mofe-creek-in-liberia-52431.html
<![CDATA[News - Tawana Resources progressing scoping study for Liberia iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/162886/tawana-resources-progressing-scoping-study-for-liberia-iron-ore-project-52114.html Tawana Resources (ASX: TAW) is progressing its wholly-owned Mofe Creek Iron Ore Project in Liberia with the award of two contracts for inputs into the Scoping Study.

The scope of works includes the maiden resource/mine planning components by Coffey International and initial environmental, social and community studies by Earth Systems.

Tawana had last week unveiled a new iron ore discovery at the Gofolo prospect within the project with drilling intersecting 4 metres at 40.2% iron from surface and 62 metres at 38.8% iron from surface, including 18 metres at 49.5% iron from 16 metre.

With only 8 kilometres of a 65 kilometre interpreted prospective strike drilled to date, the projects upside potential is substantial.

Resource drilling has also been completed at the Zaway prospect, the third potential Mofe Creek Project future mine, with assays being received and under review.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 22 Jan 2014 12:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162886/tawana-resources-progressing-scoping-study-for-liberia-iron-ore-project-52114.html
<![CDATA[News - Tawana Resources discovers new high grade iron at Mofe Creek in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162885/tawana-resources-discovers-new-high-grade-iron-at-mofe-creek-in-liberia-51885.html Tawana Resources (ASX: TAW) is set to trade higher after a new iron ore discovery at the Gofolo prospect within its Mofe Creek Iron project in Liberia, West Africa.

Potential direct shipping ore intersections, over a 1 kilometre strike, include 4 metres at 40.2% iron from surface and 62 metres at 38.8% iron from surface, including 18 metres at 49.5% iron from 16 metres.

With only 8 kilometres of a 65 kilometre interpreted prospective strike drilled to date, the projects upside potential is substantial.

Resource drilling has also been completed at the Zaway prospect, the third potential Mofe Creek Project future mine, with assays being received and under review.

A metallurgical testwork program at ALS laboratories in Perth is scheduled to commence during February.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 15 Jan 2014 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162885/tawana-resources-discovers-new-high-grade-iron-at-mofe-creek-in-liberia-51885.html
<![CDATA[News - Tawana Resources hits high grade iron from surface at Mofe Creek, West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/162884/tawana-resources-hits-high-grade-iron-from-surface-at-mofe-creek-west-africa-50368.html Tawana Resources (ASX: TAW) is looking to continue its recent share price charge after receiving positive initial iron assays from ongoing drilling at Gofolo, part of its Mofe Creek project in Liberia, West Africa.

Significant intersections of high grade coarse itabirite mineralisation from surface, including 46 metres at 40.4% iron from surface and 18.8 metres at 48.8% iron from 2 metres.

This drilling campaign is extending the potential mineable resource footprint at Gofolo, with strike continuity extended by 125% from 0.8 kilometres to 1.8 kilometres, and width has increased by 50 metres in the central portion of prospect.

Notably, the Gofolo Main prospect represents a strike length of 1.8 kilometres from a prospective 65 kilometres of strike for the broader Mofe Creek project.

Early results from the Gofolo Main prospect continue to confirm high-grade mineralisation potential with significant widths and grade intersected along strike from previous reconnaissance drilling.

Effective production of a +60% product via simple crushing and gravity separation is expected to be confirmed in upcoming metallurgy.

In addition, drilling is now underway at high-priority Zaway prospect, and a scoping study over Mofe Creek is to be completed by mid-2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 20 Nov 2013 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162884/tawana-resources-hits-high-grade-iron-from-surface-at-mofe-creek-west-africa-50368.html
<![CDATA[News - Tawana Resources awards Scoping Study to Tenova for Mofe Creek iron, Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162883/tawana-resources-awards-scoping-study-to-tenova-for-mofe-creek-iron-liberia-49947.html Tawana Resources (ASX: TAW) has awarded the Scoping Study for its Mofe Creek iron project in Liberia to global mining design and development group, Tenova Mining and Minerals.

Tenova is a worldwide supplier of advanced technologies, products and engineering services, with specific experience in designing start-up programs for 1-2 million tonne per annum iron operations

Tawana plans to appoint major subcontracting groups in the coming weeks to complement Tenova in scoping study development.

Mofe Creek is Tawana's flagship project, located in an historic iron ore district within Liberia, West Africa, 20 kilometres from coast and 80 kilometres to a major port.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 07 Nov 2013 15:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162883/tawana-resources-awards-scoping-study-to-tenova-for-mofe-creek-iron-liberia-49947.html
<![CDATA[News - Tawana Resources completes placement for iron ore project in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162882/tawana-resources-completes-placement-for-iron-ore-project-in-liberia-49243.html Tawana Resources (ASX: TAW) has now finished the share placement to institutions and professional investors recently announced, with the funds to progress drilling at its Mofe Creek iron ore project in Liberia.

A total of 244 million fully paid ordinary shares in the capital of the company have been issued to investors at $0.012 to raise a total of $2.928 million before costs.

Mofe Creek is a grassroots iron ore discovery within a proven iron ore district.

The project has a 95 million tonne exploration target of high-grade friable itabirite within a >500 million tonne global exploration target size.

A defining factor for Mofe Creek is the infrastructure options, being located 65 kilometres to port (or 85 kilometres via sealed road), which helps support a low capital intensity.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 18 Oct 2013 12:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162882/tawana-resources-completes-placement-for-iron-ore-project-in-liberia-49243.html
<![CDATA[News - Tawana Resources raises funds to drill Mofe Creek iron ore project in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162881/tawana-resources-raises-funds-to-drill-mofe-creek-iron-ore-project-in-liberia-48995.html Tawana Resources (ASX: TAW) has received strong support from the investor community in raising $2.9 million through a placement of 244 million shares at $0.012 per share to new and existing investors.

The funds will be allocated to the wholly-owned Mofe Creek iron ore project in Liberia, which is a grassroots iron ore discovery within a proven iron ore district.

On the agenda will be next at Mofe Creek will be more drilling, metallurgical testwork, along with the initiation of a Scoping Study for the project.

The project has a 95 million tonne exploration target of high-grade friable itabirite within a >500 million tonne global exploration target size.

A defining factor for Mofe Creek is the infrastructure options, being located 65 kilometres to port (or 85 kilometres via sealed road), which helps support a low capital intensity.

Metallurgical test-work confirms 44-57% mass recovery & 60%+ iron product in itabirite at 3.35mm crush only –real potential to optimise.

High-grade friable itabirite and direct shipping ore have been intersected from surface. Highlighting the prospectivity of the project, only 3 kilometres of a >65 kilometres prospective strike has been drill tested.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 11 Oct 2013 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162881/tawana-resources-raises-funds-to-drill-mofe-creek-iron-ore-project-in-liberia-48995.html
<![CDATA[News - Tawana Resources heads to market, iron ore resource drilling underway in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162880/tawana-resources-heads-to-market-iron-ore-resource-drilling-underway-in-liberia-48904.html Tawana Resources (ASX: TAW) is in pre-open this morning following the ASX granting the company a trading halt, pending capital raising details.

Recently Tawana commenced maiden resource drilling at the wholly-owned Mofe Creek iron ore project in Liberia, with a focus on the Gofolo Main target.

High-grade friable itabirite and potential direct shipping ore intersected. Assays are pending.

The halt will remain in place until the opening of trade on Friday 11th October 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 09 Oct 2013 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162880/tawana-resources-heads-to-market-iron-ore-resource-drilling-underway-in-liberia-48904.html
<![CDATA[News - Tawana Resources kicks off resource drilling at Gofolo Main iron ore target in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162879/tawana-resources-kicks-off-resource-drilling-at-gofolo-main-iron-ore-target-in-liberia-48680.html Tawana Resources (ASX:TAW) has commenced resource and extension drilling at its Gofolo Main Koehnko iron ore targets within the Mofe Creek iron ore project in Liberia, West Africa.

One of the first extensional resource drill holes at Gofolo Main has intersected high-grade, coarse itabirite with potential direct shipping ore (DSO) from surface.

A second hole was collared above a large, high-grade, coarse itabirite outcrop with +60% DSO accumulations within.

The Mofe Creek iron ore project is located 20 kilometres to coast, 65 kilometres to port, adjacent to rail alignment and boasts 65 kilometres of prospective strike, of which only 3 kilometres has been drill tested.

It lies in a premier iron ore district 25 kilometres along strike from the historic 50 million tonne Bomi Hills DSO mine.

Drilling continues along strike to the east to confirm length and width prior to infill and metallurgical drilling.

Access to the Zaway prospect has exposed mineralisation along the bulldozed track and along strike from outcropping high-grade, coarse grained itabirite.

Drilling here will test outcropping, coarse grained friable itabirite identified in addition to potential blind DSO mineralisation.

A total of 1,600 metres of diamond drilling and 5,100 metres to 7,200 metres of reverse circulation drilling is planned for this program, expected to be completed in 3 months.

Negotiations regarding construction and infrastructure sharing of rail and port access are underway, as are discussions with engineering firms to assist development of a low capital start-up project.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Wed, 02 Oct 2013 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162879/tawana-resources-kicks-off-resource-drilling-at-gofolo-main-iron-ore-target-in-liberia-48680.html
<![CDATA[News - Tawana Resources makes new iron ore discovery at Mofe Creek in Liberia, West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/162878/tawana-resources-makes-new-iron-ore-discovery-at-mofe-creek-in-liberia-west-africa-48338.html Tawana Resources (ASX: TAW) has discovered high-grade itabirite mineralisation over a 2 kilometre strike at Gofolo North-East, within 2.5 kilometres of the Gofolo Main prospect; both within its 100% owned Mofe Creek Iron Ore Project in Liberia.

A total of 259 holes have been drilled along the Gofolo NE target with 62 holes intersecting iron formation; 30 results received to date, and 32 results pending.

Mineralisation averaged 32-35% iron over 1 kilometre, demonstrated a 40 metre friable enrichment depth and upgradeability to a 60% DSO iron concentrate by simple crushing and gravity separation.

A cluster of priority prospects is developing within 5 kilometres trucking distance of each other and with similar high-grade, coarse grained itabirite as intersected in drilling at Gofolo.

This new discovery adds another high value discovery to the Mofe Creek project given the similarity in mineralisation and proximity to the Gofolo Main prospect.

Mofe Creek is favourably located adjacent to rail alignment, 20 kilometres to coastline and 65 kilometres from port.

Further exploration drilling is planned.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 23 Sep 2013 12:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162878/tawana-resources-makes-new-iron-ore-discovery-at-mofe-creek-in-liberia-west-africa-48338.html
<![CDATA[News - Tawana Resources receives environmental permit for Liberia iron ore drilling ]]> http://www.proactiveinvestors.com.au/companies/news/162877/tawana-resources-receives-environmental-permit-for-liberia-iron-ore-drilling-47621.html Tawana Resources (ASX: TAW) has received environmental approval from the Liberia Government for the upcoming exploration drilling program at its wholly-owned Mofe Creek Iron Ore Project.

This is designed to deliver a maiden JORC Resoruce for the project and will also test the new Zaway discovery for potential blind DSO similar to the historic Bomi Hills mine about 20 kilometres along strike to the east.

A bulldozer has been mobilised to site and has commenced clearing drill access to the Zaway target along an existing light vehicle track.

The company is securing a multipurpose reverse circulation and diamond core drill rig to carry out exploration diamond drilling at Zaway followed by resource and metallurgical drilling at the Gofolo and Koehnko prospects.

A total of 1,600 metres of diamond drilling and 5,100 metres to 7,200 metres of reverse circulation drilling is planned for this program.

Exploration drilling will test outcropping, exceptionally coarse grained friable itabirite identified at Zaway in addition to potential blind DSO mineralisation.

Pending initial results at Zaway, it too may be included within the resource model for the Mofe Creek Project.

Drilling is expected to be completed within 3 months.

In addition to the up-coming drilling program, the company has commenced a detailed assessment of potential Engineering and Design/Construction Groups to assist it in the preparation of the Mofe Creek Scoping Study.

This review will consider both in-country and global iron ore expertise, including, but not limited to, resource modelling, mine planning, metallurgy, plant design, infrastructure logistics and project financials.

Mofe Creek is located about 20 kilometres from the coast for potential haul-road trucking or conveyor of product to the coast and transhipment via barge to deeper water for on shipment.

Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia via a 100 kilometre sealed road from the central licence area or a 65 kilometres decommissioned standard-gauge iron ore railway alignment+ from the Bomi Hills mine to the port of Monrovia; 17 kilometres east from the easternmost magnetic anomaly.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 05 Sep 2013 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162877/tawana-resources-receives-environmental-permit-for-liberia-iron-ore-drilling-47621.html
<![CDATA[News - Tawana Resources’ study shows Liberian iron ore project to have low operating costs ]]> http://www.proactiveinvestors.com.au/companies/news/162876/tawana-resources-study-shows-liberian-iron-ore-project-to-have-low-operating-costs-45095.html Tawana Resources (ASX: TAW) has completed a preliminary desktop assessment of the Mofe Creek iron ore project in Liberia indicating that total FOB operating costs could range between US$30 and US$35 per tonne.

This is based on recent favourable metallurgical test results showing that a simple gravity processing plant could yield weight recoveries of between 44% and 57% from the soft itabirite mineralisation.

The tests had also confirmed that a high quality 60%+ iron concentrate could be produced.

The preliminary assessment, which did not include a capital expenditure estimate, is based on an open cut contract mining operation with a mine life of at least 10 years.

Conventional ripper, excavator, haul truck and front end loaders will be used on a contract mining basis.

It warned that Mofe Creek is not sufficiently advanced to be currently supported by Mineral Resources and that the results cannot provide any assurance of economic development or economic viability of the project.

Rather, the company would have to establish sufficient Resources and sufficiently consider other factors including but not limited to mining, processing, metallurgical, infrastructure, marketing, environmental, social and Government matters before its aspirations for the Mofe Creek Iron Project can be realised.

The Gofolo and Koehnko prospects collectively host an exploration target of 95 million tonnes of friable itabirite within the global exploration target of 500Mt.

The project is 10 kilometres along strike from the abandoned Bomi Hills mine (>50Mt DSO at 65% Fe plus SF), 80 kilometres along strike from the historic Bong Mine (>275Mt at 38% Fe), 45 kilometres from the Mano River mine (100Mt at 52% Fe) and 20 kilometres from the Bea Mountain resource (>100Mt at 45% Fe).

Mofe Creek is located about 20 kilometres from the coast for potential haul-road trucking or conveyor of product to the coast and transhipment via barge to deeper water for on shipment.

Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia via a 100 kilometre sealed road from the central licence area or a 65 kilometres decommissioned standard-gauge iron ore railway alignment+ from the Bomi Hills mine to the port of Monrovia; 17 kilometres east from the easternmost magnetic anomaly.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 02 Jul 2013 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162876/tawana-resources-study-shows-liberian-iron-ore-project-to-have-low-operating-costs-45095.html
<![CDATA[News - Tawana Resources to release desktop study on Mofe Creek iron ore project in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162875/tawana-resources-to-release-desktop-study-on-mofe-creek-iron-ore-project-in-liberia-44921.html Tawana Resources (ASX:TAW) is in a halt pending the release of a desktop study on the Mofe Creek iron ore project in Liberia.

The securities of the company will be in pre-open until 1 July, 2013 or when an announcement is made, which is earlier.

Metallurgical test work of mineralisation at the Gofolo and Koehnko prospects at Mofe Creek, had confirmed high grade mineralisation of greater than 60% iron ore product with low impurities.

Test work targeted friable itabirite at both Gofolo and Koehnko Prospects collectively hosting an exploration target of up to 95 million tonnes.

Mineralisation is up to 40 metres thick, from surface and friable indicating low mining costs.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 27 Jun 2013 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162875/tawana-resources-to-release-desktop-study-on-mofe-creek-iron-ore-project-in-liberia-44921.html
<![CDATA[News - Tawana Resources testwork highlights potential to upgrade iron grade in Liberia ]]> http://www.proactiveinvestors.com.au/companies/news/162874/tawana-resources-testwork-highlights-potential-to-upgrade-iron-grade-in-liberia-44820.html Tawana Resources (ASX: TAW) has completed metallurgical testwork confirming that iron ore from the Gofolo and Koehnko Prospects in Liberia can be processed using simple gravity to produce a high grade 60%+ iron concentrate.

This concentrate, which was derived from soft, weathered friable itabirite mineralisation from surface that does not require grinding, also has low impurities.

Test work on this material delivered weight recoveries ranging from 44% to 57%.

Gofolo and Koehnko are located within Tawana’s wholly-owned Mofe Creek project, which is in one of Liberia’s historic premier iron ore mining districts.

The project is 10 kilometres along strike from the abandoned Bomi Hills mine (>50Mt DSO at 65% Fe plus SF), 80 kilometres along strike from the historic Bong Mine (>275Mt at 38% Fe), 45 kilometres from the Mano River mine (100Mt at 52% Fe) and 20 kilometres from the Bea Mountain resource (>100Mt at 45% Fe).

Gofolo and Koehnko host a combined Exploration Target of up to 95 million tonnes within the global 500Mt Exploration Target at Mofe Creek.

This estimate includes both friable itabirite and friable intermixed itabirite/amphibolite mineralisation but not hard itabirite or potential blind DSO.

Mofe Creek is located about 20 kilometres from the coast for potential haul-road trucking or conveyor of product to the coast and transhipment via barge to deeper water for on shipment.

Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia via a 100 kilometre sealed road from the central licence area or a 65 kilometres decommissioned standard-gauge iron ore railway alignment+ from the Bomi Hills mine to the port of Monrovia; 17 kilometres east from the easternmost magnetic anomaly.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 25 Jun 2013 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162874/tawana-resources-testwork-highlights-potential-to-upgrade-iron-grade-in-liberia-44820.html
<![CDATA[News - Tawana Resources extends strike length of Liberian iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/162873/tawana-resources-extends-strike-length-of-liberian-iron-ore-project-43842.html Tawana Resources (ASX: TAW) has extended mineralisation at the Koehnko South target of its Mofe Creek Iron Ore Project in Liberia by an additional 2 kilometres strike with width of about 400 metres.

This has increased the total strike length at the Koehnko target to over 8 kilometres.

The mineralisation remains open to the east and contains significant reported reverse circulation intersections such as 34 metres at 43% iron including 8 metres at 53.5% iron from surface.

Notably, the project is located in one of Liberia’s historic premier iron ore mining districts and is just 10 kilometres along strike from the abandoned Bomi Hills mine (50 million tonnes at 65% iron), 80 kilometres along strike from the historic Bong Mine (275 million tonnes at 38% iron) and 45 kilometres from the Mano River mine (100 million tonnes at 52% iron).

Hand auger sampling has also defined over 3 kilometres of coarse grained and high-grade (about 45% iron) itabirite outcrops on the Zaway targets.

The Zaway targets have scale and grade potential similar to Gofolo Main target, which has an Exploration Target of 40 million to 75 million tonnes.

Drilling at the Gofolo Main target at Mofe Creek has intercepted up to 40 metres at 50% iron including 14 metres at 58% iron with low contaminants from surface.

Mofe Creek is located just 20 kilometres from the coast for potential haul-road trucking or conveyor of product to the coast and transhipment via barge to deeper water for on shipment.

Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia via a 100 kilometre sealed road from the central licence area or a 65 kilometre decommissioned standard-gauge iron ore railway alignment+ from the Bomi Hills mine to the port of Monrovia.

The project currently has a global Exploration Target of 500 million tonnes.

Liberia is historically the largest exporter of iron ore in Africa and remains underexplored and highly prospective for iron ore, gold & diamonds.

Other drawcards include 10 years of political stability, a modern mining code and an English speaking population.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 29 May 2013 10:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162873/tawana-resources-extends-strike-length-of-liberian-iron-ore-project-43842.html
<![CDATA[News - Tawana Resources reviewing options to develop Liberia iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/162872/tawana-resources-reviewing-options-to-develop-liberia-iron-ore-project-42916.html Tawana Resources (ASX: TAW) is undertaking a strategic review of potential financing and strategic partnership options to advance development of its Mofe Creek Iron Ore Project in Liberia.

This follows the company receiving approaches regarding its intentions for the funding and development the project.

A review will allow the company to explore all potential funding and development scenarios with the aim of maximising shareholder returns.

The company had recently completed a maiden 2,500 metre reverse circulation drill program at the project, which has an exploration target of 500 million tonnes of friable iron formation.

Significant intersections include 40 metres at 46% iron, 56 metres at 37.9% iron and 40 metres at 49.9% iron.

The Project is just about 20 kilometres from the coast and the most likely development scenario would see construction of a haul road for trucking of product to the coast and transhipment via barge or conveyor to deeper water for on shipment.

Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia; a 100 kilometre long sealed road exists from the central licence area to the city of Monrovia.

In addition to this a decommissioned standard gauge iron ore railway alignment exists from the Bomi Hills mine to the port of Monrovia; 20 kilometres east from the easternmost magnetic anomaly. Rail distance from Mofe Creek to the port of Monrovia is 65 kilometres.

Tawana had $1.26 million in cash as of 31 March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 06 May 2013 16:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162872/tawana-resources-reviewing-options-to-develop-liberia-iron-ore-project-42916.html
<![CDATA[News - Tawana Resources to begin drilling at Liberian iron ore project, near historic DSO mine ]]> http://www.proactiveinvestors.com.au/companies/news/162871/tawana-resources-to-begin-drilling-at-liberian-iron-ore-project-near-historic-dso-mine--38057.html Tawana Resources (ASX: TAW) is set to begin reverse circulation drilling at its Mofe Creek Project, where previous auger holes have averaged 42% iron with low contaminants.

The Mofe Creek Project is located within one of Liberia’s historic premier iron ore mining districts, 10 kilometres along strike from the abandoned Bomi Hills iron ore mine.

Historic production at Bomi Hills is estimated at about 50 million tonnes of high grade direct shipping ore (DSO) magnetite lump in addition to high grade sinter feed beneficiated from friable iron formation.

A rig is currently mobilising at the Mofe Creek Project to begin a program of 2,500 metres of drilling at the Koehnko and Gofolo targets.

Drilling will test the depth extent and continuity of mineralisation in addition to favourable DSO structural settings within the targets.

A total of 20 holes have been planned with hole depths varying from 60 to 150 metres depending on the results encountered.

Reconnaissance rock chip sampling and hand auger drilling on the project has confirmed the presence of DSO magnetite, hematite and friable iron formation.

Tawana plans to drill the Koehnko target first where over 5 kilometres strike length of friable iron formation at average 42% iron and low contaminants has been defined over 100 to 400 metre widths.

About 1,800 metres of reverse circulation drilling is planned at Koehnko in 14 holes.

An additional six holes for 700 metres of reverse circulation drilling is planned over the Gofolo target where outcropping coarse grained plus-45% iron formation has been mapped and sampled over a 3 kilometre strike length.


Potential similarities to Bomi Hills

Depth potential of the friable iron formation defined at Koehnko and Gofolo remains unknown until drill tested.

However, a minimum depth of 5.5 metres has been confirmed in hand auger drilling and analogies drawn with Bomi Hills suggests potential enrichment weathering depths of up to 25 to 30 metres may be achieved.

Greater depths and even blind friable iron formation targets may be encountered due to structural preparation by the cross-cutting Todi Shear zone.

The potential for blind DSO magnetite mineralisation along the footwall contact at depth or other favourable structural settings is a possibility as seen at Bomi Hills.

The Mofe Creek Project is well positioned for possible future infrastructure scenarios – road or rail to the deep water port of Monrovia or road to coast and transhipment via barge to deeper water for onward shipment.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 11 Jan 2013 12:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162871/tawana-resources-to-begin-drilling-at-liberian-iron-ore-project-near-historic-dso-mine--38057.html
<![CDATA[News - Tawana Resources extends Sinoe gold soil anomaly in Liberia, West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/162869/tawana-resources-extends-sinoe-gold-soil-anomaly-in-liberia-west-africa-26312.html Tawana Resources (ASX: TAW) has extended the Northern soil anomaly at the Sinoe Gold Project in Liberia to 9 kilometres following the maiden geological exploration program at the project.

Drilling at the project is expected to begin in the June quarter of 2012.

Two soil anomalies of up to 1 grams per tonne (g/t) gold in soils have been identified at Sinoe.

Based off the recent exploration program, the Northern anomaly has been extended to 9 kilometres strike and between 400 and 1600 metres wide, up from 5.8 kilometres strike by 400 to 1400 metres width.

The Southern anomaly comes in at 8 kilometres long by between 400 and 1400 metres wide.

Infill soil sampling has been completed at the Southern Anomaly and is underway at the Northern anomaly.

Samples from the Southern anomaly have been submitted to the laboratory, with results pending.

Meanwhile, trenching has begun at the Southern anomaly, with a total of 400 metres completed along the highest tenor gold intervals.

Liberian gold project acquisition

Last month, Tawana entered an agreement to acquire the gold rights to the Cape Mount Gold Project in northwest Liberia from a private company.

The project comprises gold rights to 1,996 square kilometres of land next door to Aureus Mining’s (LON: AUE) 1.57 million ounce New Liberty Gold Project.

The Cape Mount gold project hosts a number of target areas, including the Soso Hill/Fula Camp, where rock chip sampling returned 6 metres at 23.6 grams per tonne (g/t) gold, including 2 metres at 53.8g/t gold, on a previously untested target.

]]>
Mon, 12 Mar 2012 17:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162869/tawana-resources-extends-sinoe-gold-soil-anomaly-in-liberia-west-africa-26312.html
<![CDATA[News - Tawana Resources to acquire Liberian gold project ]]> http://www.proactiveinvestors.com.au/companies/news/162868/tawana-resources-to-acquire-liberian-gold-project-25338.html Tawana Resources (ASX: TAW) has entered an agreement to acquire the gold rights to the Cape Mount Gold Project in northwest Liberia.

The agreement, with a private Liberian company, comprises gold rights to 1,996 square kilometres of highly prospective Archean geology in Grand Cape Mount County, next door to Aureus Mining’s (LON: AUE) 1.57 million ounce New Liberty Gold Project.

The Cape Mount gold project hosts a number of target areas, including the Soso Hill/Fula Camp, where rock chip sampling returned 6 metres at 23.6 grams per tonne (g/t) gold, including 2 metres at 53.8g/t gold, on a previously untested target.

Historical drilling from Soso Hill/Fula Camp returned assays of:

- 9.9 metres at 5.4 grams per tonne (g/t) gold from 20 metres;
- 12.5 metres at 3.1g/t gold from 20 metres; and
- 21.4 metres at 2.4g/t gold from 16 metres.

Importantly, access to the project from capital city Monrovia to the southwest via sealed and laterite roads.

Conditions of the acqusition

Consideration for the acquisition of the Cape Mount Gold Project comprises US$500,000 upon signing a Definitive Agreement, and a further US$500,000 12 months afterwards.

Tawana will also grant the vendor a 2.5% net smelter return gold royalty.

The vendor will be permitted to continue alluvial mining for gold and diamonds on the Class B Mining licences and eluvial gold mining to a maximum depth of 15 metres from the natural surface within the Soso Camp Licence.

The agreement is subject to the completion of exclusive due diligence and execution of a Definitive Agreement within 45 days.

]]>
Wed, 15 Feb 2012 12:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162868/tawana-resources-to-acquire-liberian-gold-project-25338.html
<![CDATA[News - Tawana Resources on the acquisition trail, halt granted pending announcement ]]> http://www.proactiveinvestors.com.au/companies/news/162867/tawana-resources-on-the-acquisition-trail-halt-granted-pending-announcement-25207.html Tawana Resources (ASX: TAW) has some potentially very interesting news in the pipeline with the ASX granting the company a halt pending an acquisition announcement.

Tawana has not yet eluded to where the potential acquisition is or what resource, but the company currently has some interesting exposure to West Africa.

Earlier in the month Tawana announced it has identified several high priority soil anomalies from its maiden geological exploration program on the company’s Sinoe project in Liberia.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 15 February.

 

]]>
Mon, 13 Feb 2012 09:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162867/tawana-resources-on-the-acquisition-trail-halt-granted-pending-announcement-25207.html
<![CDATA[News - Tawana Resources defines broad strikes of stream sediment gold anomalies in West Africa ]]> http://www.proactiveinvestors.com.au/companies/news/162866/tawana-resources-defines-broad-strikes-of-stream-sediment-gold-anomalies-in-west-africa--23451.html Tawana Resources (ASX: TAW) has uncovered 10 kilometre and 6 kilometre strikes of stream sediment gold anomalies from its maiden geological exploration program at its West African Nimba and Lofa projects respectively.

A total of 355 stream sediment samples were collected on the Nimba prospect and 218 were collected on the Lofa prospect.

At Nimba, peak anomalies were recorded at 16 parts per billion – 16 times higher than background gold levels of around 1 part per billion.

The strongest gold response in the southwest corner of Nimba defined a plus-10 kilometre strike length ridge and two smaller sub-parallel ridges on either side of the main trend.

The prospectivity of this area is further increased by artisanal mining activity downstream.

A further defining factor of Nimba’s potential is the favourable geology and major structures that host the nearby 5 million ounce Ity mine and 1.52 million ounce New Liberty resource.

The Nimba licence covers 995 square kilometres and is adjacent to the Ity gold mine.

Meanwhile, Peak gold anomalism at Lofa was reported at 8.6 parts per billion – 8.5 times higher than background gold levels of around 1 part per billion.

Clustering of anomalies was observed within streams draining a discrete 6 by 3 kilometre area of hills in the northwest of the tenement area.

The Lofa licence covers 596 square kilometres and is along strike from the New Liberty gold deposit.

A soil sampling and infill stream sediments program has been planned to cover the newly identified target areas. Field work is expected to begin early in 2012.

Pending results, infill soil sampling and trenching followed by drilling of subsequent target areas is planned.

]]>
Wed, 14 Dec 2011 17:08:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162866/tawana-resources-defines-broad-strikes-of-stream-sediment-gold-anomalies-in-west-africa--23451.html
<![CDATA[News - Tawana Resources: Definitive Feasibility Study shows 1.5mtpa manganese potential ]]> http://www.proactiveinvestors.com.au/companies/news/162865/tawana-resources-definitive-feasibility-study-shows-15mtpa-manganese-potential--22917.html Tawana Resources (ASX: TAW) has received the Definitive Feasibility Study (DFS) for the Gravenhage Manganese Project in South Africa from operator Aquila Resources.

Aquila has released the DFS, which indicates the technical and economic viability of a 1.5 million tonne per annum run of mine manganese development for the project.

Initial capital expenditure has been estimated at US$180 million, while life of mine average operating costs are about US$2.90 per dry metric tonne unit.

An updated Resource statement has increased the Gravenhage deposit JORC Resource to 117.9 million tonnes at 38.3% manganese, while the mine plan has set a maiden Proved and Probable JORC Reserve of 20.2 million tonnes at 40.1% manganese.

Importantly, the companies believe strong exploration potential remains in the project area.

Tawana holds a 6.76% indirect equity interest in Gravenhage through its 26% equity stake in Rakana Consolidated Mining, which is a partner in the Thabazimbi joint venture with Aquila.

The Thabazimbi joint venture includes the Northern Cape Project, which includes Gravenhage, and the Thabazimbi project, which contains the Meletse Iron Ore Project.

]]>
Fri, 02 Dec 2011 10:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162865/tawana-resources-definitive-feasibility-study-shows-15mtpa-manganese-potential--22917.html
<![CDATA[News - Tawana Resources acquires DSO potential iron ore project ]]> http://www.proactiveinvestors.com.au/companies/news/162864/tawana-resources-acquires-dso-potential-iron-ore-project-22731.html Tawana Resources (ASX: TAW) is aiming to develop a high margin, low tonnage magnetite iron ore operation in Liberia that could generate significant cash flows.

The company has acquired 100% of the Mofe Creek Iron Project in western Liberia, which covers 285 square kilometres.

Mofe Creek is located 25 kilometres from the coast, adjacent to a historical heavy-haul iron ore railway, and 65 kilometres from the Monrovia deep sea port on well maintained, sealed roads.

Large discrete magnetic anomalies over a 35 kilometre strike at Mofe Creek are comparable to 15 kilometres of strike at the historical Bomi Hills iron ore mine, 10 kilometres along strike.

Production rates from Bomi Hills were poorly documented, however the Liberian government has estimated production at 50 million tonnes of high grade direct shipping ore magnetite at grades of 64-66% iron, 4-6% silica and 0.75-1.5% aluminium.

Initial reconnaissance sampling at Mofe Creek has returned results of 49.2% iron, 27.3% silica and 1.1% aluminium.

Outcrops of iron formation and massive magnetite concentrations were also observed in the field, with individual massive magnetite accumulations up to meter scale enhancing the possibility of hypogene, massive magnetite bodies.

Tawana has started detailed field mapping and rock chip sampling, targeting high-grade magnetite direct shipping ore and weathered, soft magnetite iron formation for beneficiation.

The company expects results to be released by January 2011.

]]>
Tue, 29 Nov 2011 17:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/162864/tawana-resources-acquires-dso-potential-iron-ore-project-22731.html
<![CDATA[News - Tawana Resources acquires Liberian gold project with no previous modern day exploration ]]> http://www.proactiveinvestors.com.au/companies/news/162863/tawana-resources-acquires-liberian-gold-project-with-no-previous-modern-day-exploration-18693.html Tawana Resources (ASX: TAW) has now successfully completed due diligence and has secured rights to acquire the Sinoe Gold Project in south-east Liberia.

The landholding covers a significant 400 square kilometres of prospective Birimian geology along the Dugbe Shear.

Boosting the prospectivity is the project is 20 kilometres along strike from Hummingbird Resources’ (AIM: HUM) Dugbe Resource of 800,000 gold ounces and 40 kilometres along strike from the Equator Resources (ASX: EQU) Bukon Jedeh project.

Another plus is there are extensive alluvial and hard rock workings within the licence area with no modern day exploration, with an assessment of artisanal workings in the area to be undertaken.

Tawana said that an aggressive field sampling and mapping program has commenced, with field teams on site carrying out soil sampling traverses over high priority target areas.


Consideration for the deal

The US$10,000 otion payment and the US$40,000 execution payment on successful due diligence have been paid, with another US$50,000 execution payment to be paid within six months of the commencement of exploration or, announcing to market a significant exploration target.

Tawana is to fund exploration during the first year after which it has the right to purchase the licence outright or walk away.

The outright purchase terms are:

1. US$350,000 payment and six million shares in the company;
2. US$1 million payment at announcement of 1 million ounce JORC Resource;
3. Additional US$1 million payments for each additional 500,000 ounce JORC Resource announced to market up to a maximum resource of 2.5 million ounces; and
4. US$5 million payment at pouring first gold from a mining operation within the licence area.

 

]]>
Tue, 16 Aug 2011 13:56:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162863/tawana-resources-acquires-liberian-gold-project-with-no-previous-modern-day-exploration-18693.html
<![CDATA[News - Tawana Resources looks to grow Liberian exposure by acquiring gold tenement option ]]> http://www.proactiveinvestors.com.au/companies/news/162862/tawana-resources-looks-to-grow-liberian-exposure-by-acquiring-gold-tenement-option--17838.html Tawana Resources (ASX: TAW) has the option to boost exposure in the west African nation of Liberia after securing rights for due diligence on a Birimian land package located in Sinoe County, in the south-east of the country.

The Sinoe project area covers an extensive 400 square kilometres, and boosting the potential is there are extensive alluvial and hard rock workings within the licence area with no modern day exploration.

Adding to the prospectivity is the project is 20 kilometres along strike from Hummingbird Resources (LON: HUM) 800,000 gold ounce Dugbe Resource, and 40 kilometres along strike from NT Resources (ASX: NTR) Bukon Jedeh advanced exploration project.

The proximity to these other resource companies could provide the opportunity for shared resources in a country with largely undeveloped infrastructure.

Exploration at the project will kick off almost straight away, starting with field sampling and mapping, along with an assessment of artisanal workings in the area.

Tawana has paid an initial exclusivity option fee to Global Mineral Investment Incorporated as consideration, with the details of the transaction remaining commercial-inconfidence with full acquisition details to be provided on completion of the due diligence.

 

]]>
Wed, 13 Jul 2011 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/162862/tawana-resources-looks-to-grow-liberian-exposure-by-acquiring-gold-tenement-option--17838.html