https://www.miningweekly.com

Tawana shareholders OK demerger

6th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com)  - The shareholders of ASX-listed Tawana Resources on Friday gave their blessing for a demerger of the company’s noncore assets.

The company in March announced plans to spin-out its Cowan and Yallari lithium projects, in Western Australia, and the Mofe Creek iron-ore asset, in Liberia, into a separate entity.

Tawana would retain a 15% interest in the new company, and would initially provide services to this company. In addition, Tawana would also reserve to itself certain access and water rights from the Cowan project, which would support operations at Bald Hill.

Tawana said on Friday that with board and shareholder approval now in place, the company will proceed to implement a capital reduction and demerger, with the completion of the transaction slated for July 18.

Tawana in April announced a merger with Singapore-listed Alliance Mineral Assets to create a midtier lithium producer with a market cap of A$446-million. Under the terms of the merger agreement, Alliance will acquire all the issued shares of Tawana for 1.10 Alliance shares for every Tawana share held.

Tawana shareholders will vote on the merger in August.

Edited by Creamer Media Reporter

Comments

Latest News

G Mining buys Reunion’s Guyana project
G Mining buys Reunion’s Guyana project
Updated 5 hours ago By: Mariaan Webb

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.273 0.311s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: