Tawana raises additional funds for Mofe Creek
JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Tawana Resources on Friday announced that it had raised $346 783 through the sale of 13.87-million shares by means of a share purchase plan.
The funds raised, in conjunction with the proceeds of the $5-million share placement completed in April, would be used for the advancement of the design, engineering, environmental and logistics studies to support an early start-up option and longer-term development scenarios for the company’s Liberia-based Mofe Creek iron-ore project, as well as to fast-track Tawana’s mineral development agreement.
The company was also currently finalising its metallurgical testwork programme on representative core samples from the recently completed maiden-resource drilling programme at Mofe Creek.
Tawana stated that the mine’s scoping study was progressing well, in accordance with its scheduled completion date in July, while the prefeasibility environmental, social and community assessments were scheduled to start next month, following sign off from the Liberian Environmental Protection Authority.
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