JOHANNESBURG – Australia-based mineral exploration company Tawana Resources said on Wednesday it had completed the demerger of 85% of the shares in Cowan Lithium Limited, holding the Cowan, Yallari and Mofe Creek assets.
Tawana retained 15% of the total issued shares in Cowan Lithium.
On Wednesday it said it would also hold Cowan Lithium shares that would have been issued to ineligible overseas shareholders (including South African holders) pending a liquidity opportunity.
"The company will provide a further update once a class ruling from the Australian Taxation Office has been obtained, to confirm the taxation outcome of the demerger," it said.