TAW - Tawana Resources NL - Opes Prime Update-No Overhang Release Date: 10/04/2008 11:03:01 Code(s): TAW
TAW - Tawana Resources NL - Opes Prime Update-No Overhang
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")
Opes Prime Update-No Overhang
Tawana Resources (TAW) advises that it has confirmed that the selling of Tawana
shares by the ANZ Bank as a result of the Opes Prime Group Limited (Opes)
realisation process has been completed. This eliminates the overhang of shares
which appears to have had a detrimental effect on Tawana`s ASX share price in
recent days. Registry records show that 5,306,841 Tawana shares were sold by ANZ
Nominees Limited on 3 April 2008 and that this entity
now holds no Tawana shares.
Directors note that the Tawana share price on the JSE increased substantially
(55%) following the announcement below of 8 April 2008 regarding a manganese
discovery in South Africa.
8 April 2008
Aquila Discovers High Grade Manganese on Two Project Areas in South Africa
Tawana indirect interest 5.2%
Aquila Resources Limited ("Aquila") today released an announcement to the
Australian Securities Exchange relating to the discovery of high grade manganese
on two project areas in South Africa. The summary of the announcement follows.
The full announcement can be viewed on Aquila`s website at
Tawana Resources NL ("Tawana") advises that it holds 26% equity in Rakana
Consolidated Mines Pty Ltd ("Rakana"), the joint venture partner of Aquila in
Aquila Discovers High Grade Manganese on Two Project
Areas in South Africa
Highlights of intersected manganese mineralisation include:
- 6.69m at 46.13% Manganese
- 6.09m at 48.60% Manganese
- 3.70m at 40.81% Manganese
Carbon steel resources producer and developer, Aquila Resources Limited (ASX:AQA
Aquila or the Company) is pleased to announce promising manganese assay results
from its Avontuur Projects located 75km north west of Kuruman, in the Northern
Cape Province of South Africa.
The results are from the first three holes assayed from the 74% owned Avontuur
Projects, which comprise a permit area of 370sq km. The manganese discoveries
were identified on two mineralised prospects some 20km apart and adjoining the
northern-most farms of the main Kalahari Manganese Field.
The permit was taken up initially for iron ore, but modelling of aeromagnetic
data and assessment of previous exploration identified two targets for manganese
Tel: +61 (0)3 98635222
Mob: +61 (0)428 398446
10 April 2008
Sponsor to TawanaPricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 10/04/2008 11:03:01 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.|
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.