Tawana zones in on Bald Hill, spins off remaining assets
PERTH (miningweekly.com) – Lithium miner Tawana Resources has announced the spin-out of its Cowan and Yallari lithium projects, in Western Australia, and the Mofe Creek iron-ore asset, in Liberia, into a separate entity.
Tawana told shareholders on Thursday that an ASX-listing for the new company would not be initially sought, but would be considered by the board of the new company, in due course.
“Following the recent commissioning and first spodumene concentrate production at Bald Hill, Tawana’s primary focus is to ensure effective ramp-up of production and to ensure exploration activities are focused near-mine to drive growth in mineable reserves and extend associated mine life at Bald Hill, of which the company has explored less than 5% of the known prospective area,” said Tawana MD Mark Calderwood.
He noted that it was for this reason that Tawana’s remaining assets were unlikely to garner the appropriate management focus and budgetary allocation which they warrant and require for short-term advancement.
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.
A shareholders meeting would likely be called in May this year, to allow shareholders to vote on the proposed transaction, with the completion of the spin-out targeted for June.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
