TAWANA RESOURCES NL - Succesful Capital Raising completedRelease Date: 11/10/2013 08:30:00 Code(s): TAW PDF(s):
Succesful Capital Raising completed
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
(“Tawana” or “the Company”)
Successful Capital Raising Completed
- Placement of 244m shares to new and existing investors to raise
- Funds will be used to advance the Mofe Creek Iron Ore project
through continued drilling, metallurgical testwork and the
initiation of a scoping study.
Tawana Resources NL (ASX: TAW) (the Company) is pleased to announce that it
has successfully agreed terms for a placement to institutions and professional
investors to raise approximately $2.9m.
Approximately 244m shares will be placed to investors at an issue price of $0.012
per share to raise a total of approximately $2.9m (Placement). The Company
expects to issue the shares on Friday next week using the Company’s available
capacity under ASX Listing Rules 7.1 & 7.1A.
Executive Chairman, Wayne Richards, will also seek shareholder approval to
participate in the capital raising to purchase 5m shares on the same terms as the
Canaccord Genuity (Australia) Limited acted as Lead Manager to the Placement.
Funds raised will be used primarily for continued drilling at the Company’s Mofe
Creek Iron Ore project in Liberia, metallurgical testwork, the initiation of a
scoping study for the project and working capital.
The Placement has been strongly supported by both existing and new investors and
reflects the quality of the Company’s Mofe Creek Iron Ore Project.
The trading halt has accordingly been lifted.
For further information please contact:
Lennard Kolff van Oosterwijk
Tel: +61 7 35102115
Mob: +61 424942589
Detailed information on all aspects of Tawana’s projects can be found on the
Company’s website www.tawana.com.au.
Competent Persons Statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information
compiled by Lennard Kolff van Oosterwijk, who is a Member of the Australian Institute of Geoscientists included in a list
promulgated by the ASX from time to time. Lennard Kolff van Oosterwijk is a full-time employee of the company and has
sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Lennard Kolff van Oosterwijk consents to the
inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward Looking Statement
Statements regarding plans with respect to the Company’s mineral properties, including statements, assumptions and
targets relating to the Preliminary Assessment are forward looking statements. There can be no assurance that the
Company’s plans for development of its mineral properties will proceed as currently expected, nor in accordance with the
Preliminary Assessment. There can also be no assurance that the Company will be able to confirm the presence of a mineral
deposit, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the
Company’s mineral properties, either in accordance with the Preliminary Assessment or otherwise.
11 October 2013
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 11/10/2013 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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