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TAWANA RESOURCES NL - Bald Hill on track to start lithium concentrate production this quarter

Release Date: 12/01/2018 08:36:00      Code(s): TAW       PDF(s):  
Bald Hill on track to start lithium concentrate production this quarter

Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(“the Company” or “Tawana”)

Bald Hill on track to start lithium concentrate production this quarter

PLEASE NOTE: ALL GRAPHICS HAVE BEEN REMOVED FOR SENS PURPOSES. PLEASE REFER
TO TAWANA WEBSITE FOR THE COMPLETE ANNOUNCEMENT

Tawana Resources NL (TAW:ASX) (Tawana) and Alliance Mineral Assets Limited (SGX:40F)
(AMAL) are pleased to advise that the construction and development at the Bald Hill Lithium and
Tantalum Mine, in the Eastern Goldfields region of Western Australia, is on track with lithium
concentrate production to commence this Quarter. The Bald Hill project (the Project) is a joint
project between Tawana and AMAL.

Highlights
DMS Plant construction activities have advanced significantly since the last update on 28 November
2017.
- Steelwork installation nearing completion.
- Piping and electrical cabling advancing.
- Power station installed and partly commissioned.
- ROM pad and crusher pad near completion.
- Mining ramping up with daily movements reaching 16,000m3 per day.
- Personnel levels on site peaking at over 200.
- On schedule to commence production this Quarter.
- Work on reserve upgrade underway and results also expected this Quarter.
- Tantalum offtake negotiations are progressing.

Tawana’s Managing Director Mark Calderwood said “The transformation on site since our last update on 28
November has been amazing, with construction pushing through the Christmas period. We are now entering the
home straight with commissioning expected to commence within two months.”

EPC-DMS
   - Structural steelwork, walkway, handrail and chute installation nearing completion
   - Installation of mechanical equipment well-advanced
   - HDPE pipework in DMS area underway
   - Electrical cabling installation well-advanced

Mining Operations
   - Construction of haul roads and laydown areas including SMS laydown yard, ROM, COS and magazine
     pad essentially complete
   - Drill and blast, excavate, load and haul ramping up with more than 400,000m3 mined to date.
   - Grade Control drilling ongoing
   - 22 pieces of heavy equipment and 5 Drill and Blast and Grade Control drill rigs on site

Non-Process Infrastructure
   - Power plant installed and partly commissioned
   - Fuel farm concrete pads completed and ready to receive fuel tanks in January
   - New stores shed concrete poured

About the Bald Hill Project

The Bald Hill Project comprises four mining leases, one mining lease application, 12 exploration licences, eight
prospecting licences and one general purpose lease totalling 774km2. The project is owned 50:50 by Tawana
and AMAL.
The first lithium concentrate production is targeted for the first quarter of 2018 and first delivery anticipated in
April 2018. The Project is fully funded to first shipment.
Each of Tawana and AMAL executed an offtake agreement in April 2017 (and subsequent variations thereto) for
the supply of lithium concentrate from Bald Hill over a five-year term with pricing for 2018 and 2019 of US$880/t
(FOB Esperance) for 6% Li20. The prepayments from the aforesaid offtake agreement are being used towards
the capital costs of the Project.
The Project is located 50km southeast of Kambalda in the Eastern Goldfields of Western Australia, and
approximately 75km southeast of the Mt Marion Lithium project. Refer Figure 1.
A current Indicated and Inferred lithium Mineral Resource of 18.9 million tonnes at 1.18% Li20, and 149ppm
Ta205 at a 0.5% Li20 cut-off for the Project was calculated by CSA Global Pty Ltd.1
The Project remains significantly underexplored and significant drilling is planned for 2018.

Forward Looking Statement
This report may contain certain forward looking statements and projections regarding estimated, resources and reserves; planned
production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such
forward looking statements/projections are estimates for discussion purposes only and should not be relied upon as representation
or warranty, express or implied, of Tawana Resources NL and/or Alliance Mineral Assets Limited. They are not guarantees of future
performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of
Tawana Resources NL and/or Alliance Mineral Assets Limited. The forward looking statements/projections are inherently uncertain
and may therefore differ materially from results ultimately achieved.
Tawana Resources NL and/or Alliance Mineral Assets Limited does not make any representations and provides no warranties
concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking
statements/projects based on new information, future events or otherwise except to the extent required by applicable laws. While
the information contained in this report has been prepared in good faith, neither Tawana Resources NL and/or Alliance Mineral
Assets Limited or any of their directors, officers, agents, employees or advisors give any representation or warranty, express or
implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this
presentation. Accordingly, to the maximum extent permitted by law, none of Tawana Resources NL and/or Alliance Mineral Assets
Limited, their directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect,
express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or
for any of the opinions contained in this announcement or for any errors, omissions or misstatements or for any loss, howsoever
arising, from the use of this announcement.
End Notes

    1. All material assumptions and technical parameters underpinning the Mineral Resource estimates in the ASX
       announcement dated 11 October 2017 / SGX announcement dated 12 October 2017 continue to apply and have
       not materially changed since it was last reported.

12 January 2018

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

Date: 12/01/2018 08:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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