Go Back Email this Link to a friend


TAW - Tawana - Placement Completed

Release Date: 12/09/2007 08:54:01      Code(s): TAW
TAW - Tawana - Placement Completed                                              
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")                                                     
12 September 2007                                                               
Placement Completed                                                             
The Directors of Tawana Resources (TAW) advise that 5 million shares, each with 
an attached option, were placed at A$0.15 each with institutional investors     
raising A$750,000. The options are exercisable at A$0.15 on or before 11        
September 2009.                                                                 
The funds raised will be used to progress the Orapa Project (TAW 100%) in       
Botswana, the Riverton (TAW earning 70%) and Kareevlei (TAW 74%) Projects in    
South Africa. The funds raised equate to approximately Rand 4.5 million.        
In April 2007 Tawana was granted a new prospecting licence over an area of      
approximately 57 square kilometres, covering 8 kimberlites in the Orapa         
kimberlite field in Botswana. Applications for this Prospecting Licence were    
submitted by a number of companies on a competitive basis. The Orapa kimberlite 
field is located in north eastern Botswana, and includes the Orapa, Letlhakane  
and Damtshaa diamond mines, which produce in excess of 13 million carats of     
diamonds per year.                                                              
Tawana has commenced assessment of the kimberlites in the prospecting licence   
and initial indications are that the diamondiferous BK24 is in excess of 3      
hectares in surface area and at least one other kimberlite has a surface area of
2 hectares.                                                                     
Bulk sampling has commenced at Riverton, located 25km north of Kimberley, and   
diamonds were recovered during the first week of processing of the initial bulk 
sample. 18 diamonds weighing 9.07 carats were recovered. These include a 3.12ct 
pale yellow diamond, a 1.31ct diamond and a 1.08ct diamond. The average size of 
the diamonds is 0.50 carats. This is an unusually large average size for        
diamonds from a kimberlite.                                                     
At Kareevlei the Company`s dense media separation plant has been constructed in 
readiness for the commencement of trial mining.                                 
Contact:                                                                        
Wolf Marx                                                                       
Tel: +61 (0)3 98635222                                                          
Mob: +61 (0)428 398446                                                          
Email:wolf.marx@tawana.com.au                                                   
JSE Sponsor:                                                                    
PricewaterhouseCoopers Corporate Finance                                        
This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM,     
CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience   
relevant to the style of mineralisation and types of deposits under             
consideration, and to the activities undertaken, to qualify as a competent      
person as defined in the 2004 edition of the "Australasian Code for the         
Reporting of Mineral Resources and Ore Reserves"                                
All press releases and announcements may be inspected on the Company`s web site,
namely: www.tawana.com.au                                                       
Date: 12/09/2007 08:54:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2019 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.