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Tawana looks for partner to advance Mofe Creek

6th May 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Tawana Resources is undertaking a strategic review of potential financing and strategic partnership options to advance the development of its Mofe Creek iron-ore project, in Liberia.

“The board feels it is important to explore all potential funding and development scenarios with the aim of maximising shareholder returns,” the company said in a statement on Monday.

The company announced in January, that it planned to start drilling at Mofe Creek, following the granting of a minerals exploration licence by the Ministry of Lands, Mines and Energy late last year.

It believed the project was well-positioned for possible future infrastructure scenarios, either by road or rail to the Monrovia deep sea port, or by road to the coast, followed by barge transshipment to deeper water for onward shipment.

Meanwhile, Tawana also announced the resignation of its chairperson David Frances, whom it did not propose to immediately replace, as it believed the current structure of the board remained suitable.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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