TAW - Tawana Resources NL - Executive Chairman`s briefing Release Date: 10/10/2008 10:11:02 Code(s): TAW
TAW - Tawana Resources NL - Executive Chairman`s briefing
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")
Executive Chairman`s briefing
Continued strategic growth and significant cost reductions
In the current period of turmoil and volatility on the world capital markets, I
thought it appropriate to communicate with you on the continued efforts of your
Board and senior management team to both protect and enhance your investment.
On assuming the role of Executive Chairman in late June 2008, I have undertaken
a far-reaching operational review which has resulted in the identification of
significant economies in recurrent corporate operational expenses. The reduction
of corporate overheads will mean cash preservation and a continued focus on the
enhancement of your Company`s assets.
Specifically, I can inform you of the following:
Corporate operational costs will be slashed by 45% over the near term.
Exciting progress continues at our Orapa project in Botswana with bulk
sampling, funded by our joint venture partner, to commence shortly.
Advanced discussions continue with the object of bringing our significant
Kareevlei deposit nearer to trial mining. We hope to inform the market of a
trial mining joint venture shortly.
Our Black Empowerment initiatives whereby Seven Falls (our Black
Empowerment partner in South Africa) has converted its individual project
interests into a direct equity in the holding company has been commended as
a desired model for exploration companies in southern Africa.
We continue to discuss ongoing funding and resource acquisition
opportunities with a large number of interested parties in South Africa,
Australia and in other resource rich areas.
Rest assured during these difficult times, your Board is actively focused on the
preservation and enhancement of shareholder value through intense corporate and
10 October 2008
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 10/10/2008 10:11:02 Supplied by www.sharenet.co.za
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