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TAW - Tawana - Quarterly activities and cash flow report

Release Date: 30/10/2009 09:43:01      Code(s): TAW
TAW - Tawana - Quarterly activities and cash flow report                        
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 N.L.                                                           
ABN: 69 085 166 721                                                             
Quarterly Activities and Cash Flow Report                                       
1 July - 30 September 2009                                                      
SOUTH AFRICA                                                                    
Kareevlei Wes Project, Kimberley Region, South Africa                           
(100% owned and operated by Tawana)                                             
The Company is still pursuing Risk Free Investments 2 (Proprietary) Limited t/a 
Agio Diamond Investments ("Agio") through the court system in South Africa to   
recover damages.                                                                
During the past two (2) quarters the Company has been pursuing the possibility  
of a joint venture partner to further evaluate this tenement by trial mining.   
St. Augustines Kimberlite Project, Kimberley, South Africa                      
(Operated by Tawana; Tawana 30% equity in Vecto Trade 436 (Pty) Ltd)            
No exploration work was carried out during the quarter.                         
BOTSWANA                                                                        
Orapa Project                                                                   
(Tawana 100%)                                                                   
Discussions have continued with interested parties concerning a joint venture to
enable further evaluation of this highly prospective tenement.                  
AUSTRALIA                                                                       
Corporate                                                                       
Operating expenses have been reduced substantially and this will continue       
whenever possible.                                                              
Effective immediately, Mr Winton Willesee and Mr Aaron Finlay have been         
appointed Joint Company Secretaries.                                            
The registered office of the company has changed to:                            
C/- Azalea Consulting                                                           
Level 1                                                                         
2 Ross Place                                                                    
South Melbourne VIC 3205.                                                       
FUNDING                                                                         
The Company has completed a partial rights issue raising $87,802.07 by the issue
of 17,560,414 shares.                                                           
The Company successfully negotiated and settled (post the end of this quarter) a
loan to the Company of $350,000 which is secured by a debenture over the assets 
of the Company.  This will, subject to shareholders approval, be converted into 
convertible notes to the value of $350,000, by issuing notes which, if converted
will mean 70,000,000 shares will be issued.  These convertible notes cannot be  
converted for six (6) months post the receipt of funds.                         
The injection of funds through the partial rights issue and the loan funds has  
strengthened the financial position of the Company.                             
The Company has sent (post the end of this quarter) a Notice of Extraordinary   
General Meeting to Shareholders seeking their approval of a further placement of
82,439,586 shares to raise $412,197.93 and approval for the convertible notes   
issue.                                                                          
Details of the rights issue will be circulated to shareholders during the last  
quarter of this year.                                                           
Contact:                                                                        
Euan Luff                                                                       
Tel: +61 (0)3 9224 1000                                                         
Tawana Resources- a world class diamond and mineral exploration company listed  
on the Australian and Johannesburg Stock Exchanges committed to the principles  
of enhancing shareholder value through being ethically, socially and            
environmentally conscious corporate citizens.                                   
Rule 5.3                                                                        
Appendix 5B - 3rd Quarter                                                       
Mining exploration entity quarterly report                                      
Introduced 1/7/96.  Origin:  Appendix 8.  Amended 1/7/97, 1/7/98, 30/9/2001.    
Name of entity                                                                  
Tawana Resources N.L.                                                           
ABN  69 085 166 721                                                             
Quarter ended ("current quarter")                                               
30 September 2009                                                               
CONSOLIDATED STATEMENT OF CASH FLOWS                                            
                                  Current        Year to date                   
Cash flows related to operating    quarter        (9 months)                    
activities                         $A`000         $A`000                        
1.1   Receipts from product sales  -              -                             
     and related debtors                                                        

1.2   Payments for                                                              
            (a)  exploration      (112)          (222)                          
     and evaluation                                                             
(b)  development      -              -                              
            (c)  production       -              -                              
            (d)  administration   (314)          (470)                          
1.3   Dividends received           -              -                             
1.4   Interest  received           6              6                             
1.5   Interest and other costs of  -              -                             
     finance paid                                                               
1.6   Income taxes paid            -              -                             
1.7   Other (provide details if    -              5                             
     material)                                                                  
     (VAT Refund from SARS)                                                     
                                                                                
Net Operating Cash Flows     (420)          (681)                          
                                                                                
     Cash flows related to                                                      
     investing activities                                                       
1.8   Payment for purchases of:                                                 
     (a)prospects                 -              -                              
     (b)equity investments        -              -                              
     (c) other fixed assets       -              -                              
1.9   Proceeds from sale of:                                                    
     (a)prospects                 -              -                              
     (b)equity investments        -              -                              
     (c) other fixed assets       145            195                            
1.10  Loans to other entities      -              -                             
1.11  Loans repaid by other        -              -                             
     entities                                                                   
                                                                                

     Net investing cash flows     145            195                            
1.13  Total operating and                                                       
     investing cash flows         (275)          (486)                          

     Cash flows related to                                                      
     financing activities                                                       
1.14  Proceeds from issues of      88             88                            
shares, options, etc.                                                      
1.15  Proceeds from sale of        -              -                             
     forfeited shares                                                           
1.16  Proceeds from borrowings     225            425                           
1.17  Repayment of borrowings      -              -                             
1.18  Dividends paid               -              -                             
1.19  Other (provide details if    -              -                             
     material)                                                                  
Net financing cash flows                                                   
                                  313            513                            
                                                                                
     Net increase (decrease) in   38             27                             
cash held                                                                  
                                                                                
1.20  Cash at beginning of         2              13                            
     quarter/year to date                                                       
1.21  Exchange rate adjustments    -              -                             
     to item 1.20                                                               
1.22  Cash at end of quarter                                                    
                                  40             40                             
Payments to directors of the entity and associates of the directors.            
Payments to related entities of the entity and associates of the related        
entities.                                                                       
                                                                                
Current                        
                                                 quarter                        
                                                 $A`000                         
                                                                                
1.23   Aggregate amount of payments to the        -                             
      parties included in item 1.2                                              
                                                                                
1.24   Aggregate amount of loans to the parties   -                             
included in item 1.10                                                     
                                                                                
1.25   Explanation necessary for an understanding of the                        
      transactions                                                              
NA                                                                        
                                                                                
Non-cash financing and investing activities                                     
2.1    Details of financing and investing transactions which                    
have had a material effect on consolidated assets and                     
      liabilities but did not involve cash flows                                
                                                                                
      Nil                                                                       

2.2    Details of outlays made by other entities to establish or                
      increase their share in projects in which the reporting                   
      entity has an interest                                                    
Nil                                                                       
                                                                                
                                                                                
Financing facilities available                                                  
Add notes as necessary for an understanding of the position.                    
                                  Amount         Amount used                    
                                  available      $A`000                         
                                  $A`000                                        
3.1    Loan facilities             Nil            Nil                           
                                                                                
3.2    Credit standby arrangements Nil            Nil                           
                                                                                

Estimated cash outflows for next quarter                                        
                                                 $A`000                         
4.1    Exploration and evaluation                 0                             
4.2    Development                                0                             
                                                                                
                                                                                
      Total                                      0                              

Reconciliation of cash                                                          
Reconciliation of cash at the end  Current        Previous                      
of the quarter (as shown in the    quarter        quarter                       
consolidated statement of cash     $A`000         $A`000                        
flows) to the related items in the                                              
accounts is as follows.                                                         
5.1    Cash on hand and at bank    40             2                             
5.2    Deposits at call                                                         
                                  -              -                              
5.3    Bank overdraft                                                           
                                  -              -                              
5.4    Other (provide details)                                                  
                                  -              -                              
      Total: cash at end of                                                     
      quarter (item 1.22)         40             2                              

Changes in interests in mining tenements                                        
                 Tenement    Nature of    Interest   Interest                   
                 reference   interest     at         at end of                  
(note (2))   beginning  quarter                    
                                          of                                    
                                          quarter                               
6.1    Interests                                                                
in mining                                                                 
      tenements                                                                 
      relinquish                                                                
      ed,                                                                       
reduced or                                                                
      lapsed                                                                    
6.2    Interests                                                                
      in mining                                                                 
tenements                                                                 
      acquired                                                                  
      or                                                                        
      increased                                                                 
The "Nature of interest" (items 6.1 and 6.2) includes options in respect of     
interests in mining tenements acquired, exercised or lapsed during the reporting
period. If the entity is involved in a joint venture agreement and there are    
conditions precedent which will change its percentage interest in a mining      
tenement, it should disclose the change of percentage interest and conditions   
precedent in the list required for items 6.1 and 6.2.                           
Issued and quoted securities at end of current quarter                          
Description includes rate of interest and any redemption or conversion rights   
together with prices and dates.                                                 
                    Total number  Number        Issue     Amount                
                                  quoted        price     paid up               
                                                per       per                   
security  security              
7.1   Preference                                                                
     +securities    Nil           Nil                                           
     (description)                                                              
7.2   Changes                                                                   
     during                                                                     
     quarter                                                                    
     (a)                                                                        
Increases                                                                  
     through                                                                    
     issues                                                                     
     (b)                                                                        
Decreases                                                                  
     through                                                                    
     returns of                                                                 
     capital, buy-                                                              
backs,                                                                     
     redemptions                                                                
7.3   +Ordinary      134,699,268   134,699,268   Various   Various              
     securities                                                                 
7.4   Changes                                                                   
     during                                                                     
     quarter                                                                    
     (a)            17,560,414    17,560,414    $0.005    $0.005                
Increases                                                                  
     through                                                                    
     issues                                                                     
     (b)  Increase  -             -                                             
through                                                                    
     exercise of                                                                
     options                                                                    
7.5   +Convertible   6,666,667     -             $0.03     $0.03                
debt                                                                       
     securities                                                                 
     (description)                                                              
7.6   Changes                                                                   
during                                                                     
     quarter                                                                    
     (a)            -             -                                             
     Increases                                                                  
through                                                                    
     issues                                                                     
     (b)            -             -                                             
     Decreases                                                                  
through                                                                    
     securities                                                                 
     matured,                                                                   
     converted                                                                  
7.7   Options                                    Exercise  Expiry               
     (description   37,130,053    13,240,053    price     date                  
     and                                        various   various               
     conversion                                                                 
factor)                                                                    
7.8   Issued during  Nil           Nil                                          
     quarter                                                                    
7.9   Exercised      Nil           Nil                                          
during                                                                     
     quarter                                                                    
7.10  Expired        (5,300,000)   -             $0.15     11/09/20             
     during                                               09                    
quarter                                                                    
7.11  Debentures     Nil           Nil                                          
     (totals only)                                                              
7.12  Unsecured      Nil           Nil                                          
notes (totals                                                              
     only)                                                                      
                                                                                
Compliance statement                                                            
1    This statement has been prepared under accounting policies which comply    
    with accounting standards as defined in the Corporations Act or other       
    standards acceptable to ASX (see note 4).                                   
2    This statement does give a true and fair view of the matters disclosed.    
Sign here:                             Date:   30th October, 2009               
           (Director)                                                           
Print name:    Euan Luff                                                        
Notes                                                                           
1    The quarterly report provides a basis for informing the market how the     
    entity`s activities have been financed for the past quarter and the effect  
    on its cash position.  An entity wanting to disclose additional information 
    is encouraged to do so, in a note or notes attached to this report.         
2    The "Nature of interest" (items 6.1 and 6.2) includes options in respect of
    interests in mining tenements acquired, exercised or lapsed during the      
    reporting period.  If the entity is involved in a joint venture agreement   
    and there are conditions precedent which will change its percentage         
interest in a mining tenement, it should disclose the change of percentage  
    interest and conditions precedent in the list required for items 6.1 and    
    6.2.                                                                        
3    Issued and quoted securities.  The issue price and amount paid up is not   
required in items 7.1 and 7.3 for fully paid securities.                    
4    The definitions in, and provisions of, AASB 1022: Accounting for Extractive
    Industries and AASB 1026: Statement of Cash Flows apply to this report.     
5    Accounting Standards.  ASX will accept, for example, the use of            
International Accounting Standards for foreign entities.  If the standards  
    used do not address a topic, the Australian standard on that topic (if any) 
    must be complied with.                                                      
Sponsor: PricewaterhouseCoopers Corporate Finance (Pty) Ltd                     
Date: 30/10/2009 09:43:00 Supplied by www.sharenet.co.za                     
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