Tawana - Placement Release Date: 12/12/2005 09:22:20 Code(s): TAW
Tawana - Placement
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW ISIN: AU000000TAW7
Share code on the Australian Stock Exchange Limited: TAW ISIN: AU000000TAW7
("Tawana" or "the Company")
Tawana Resources NL placed 3,712,985 shares, at A$0.60 a share, to institutional
and sophisticated investors raising A$2,227,791. Funds will be applied to
continuation of the Company"s exploration and development programs, with
particular focus on taking the Company to diamond mining producer status.
Specific activities are outlined below.
The shares were placed to clients of Intersuisse Corporate Pty Ltd, which will
receive a fee of 6% for managing and arranging the placement.
The placement is within the limits set out in the ASX Listing Rules and does not
require shareholder approval. Following allotment of the placement shares the
Company will have a total of 65,573,029 shares on issue.
Purpose of raising
- complete processing of the bulk samples from the Kareevlei Wes Project ,
and definition drilling of the KV1 and KV2 kimberlites as a precursor to
final feasibility and production during 2006.
- complete the assessment of the kimberlites discovered in the Daniel
- continue the trial mining of the Eastern Gravels.
- fast track detailed bulk sampling and further definition drilling of the
Blacktop kimberlite in the Pilbara Project.
- complete the purchase of the De Beers laboratory.
Trading in shares
The directors of Tawana advise that trade in Tawana shares will commence this
For enquires contact:
Wolf Marx Andrew Smith
Tel: +61 3 99097551 Tel: 08 82768794
Mob: 0428 398446 Mob: 0428 65205
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
All press releases and announcements may be inspected on the Company"s web site,
12 December 2005
Date: 12/12/2005 09:22:24 AM Supplied by www.sharenet.co.za
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