JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Tawana Resources on Monday announced that it had successfully completed the placement of 200-million new shares in the company in accordance with its $5-million capital raising.
The funds raised would be used primarily to advance the prefeasibility study and associated engineering, design and resource upgrades for the company’s Liberia-based Mofe Creek iron-ore project.
Tawana said the placement was strongly supported by both new investors and long-term advocates of the company and the project.
“The project is now well funded to advance its activities and potentially create value uplift for its shareholders,” the company said in a statement.