PERTH (miningweekly.com) – Lithium developer Tawana Resources has reached its A$12.5-million milestone spend at the Bald Hill project, in Western Australia, earning a 50% interest in the project, including all minerals from the tenements, as well as processing plant and infrastructure.
With the conditions of the February farm-in agreement now being satisfied, the Bald Hill joint venture agreement has come into effect.
“Tawana and Alliance Mineral Assets have been committed to delivering value to its shareholders in such a short period of time,” Tawana MD Mark Calderwood said on Tuesday.
“Both companies are well funded and it is exciting that we have the opportunity to work together to deliver lithium production in the first quarter of 2018.”
Tawana and Alliance are developing the A$42.2-million Bald Hill project, which is expected to deliver 155 000 t/y of spodumene concentrate and 260 000 lb/y of tantalum pentoxide over a mine life of 3.6 years.