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TAWANA RESOURCES NL - Lithium Production Commences at Bald Hill

Release Date: 14/03/2018 08:00:00      Code(s): TAW       PDF(s):  
Lithium Production Commences at Bald Hill

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

Lithium Production Commences at Bald Hill


    -      Lithium concentrate production commenced following commissioning of a new Dense
           Media Separation (DMS) circuit at Bald Hill
    -      Practical completion achieved and first concentrate produced
    -      DMS circuit ramping up to full production run rate over several months

Tawana Resources NL (TAW:ASX) (Tawana) and Alliance Mineral Assets Limited (SGX:40F) (AMAL) are
pleased to advise the commencement of lithium production at the Bald Hill Lithium and Tantalum
Mine in the Eastern Goldfields region of Western Australia.

The spodumene (lithium) concentrate production is the result of ore commissioning through the
newly constructed Dense Media Separation (DMS) circuit. The DMS will be ramped up to full
production run rate over several months. Bald Hill, a joint venture project between Tawana and AMAL,
is the first Australian mine to commence spodumene production since 2016.

DMS Plant construction activities have reached ore commissioning and spodumene production stage:
-       Completion of water commissioning.
-       Practical completion achieved by EPC contractor - Primero Group.
-       Ferrosilicon media introduced to the plant and stabilised.
-       Crusher commissioned and 20,000 tonnes of crushed ore stockpiled.
-       Commencement of first ore feed into the processing plant.
-       First spodumene concentrate produced.

Tawana’s Managing Director Mark Calderwood said “It is a great effort by everybody involved to take
Bald Hill from maiden lithium resource to production in nine months including only seven months of
construction from the ground up.
The focus now is to achieve steady state production from the Stage 1 DMS circuit and optimise lithium
yields. Concurrently, the JV will work on completion of the Stage 2 lithium fines circuit design and re-
commissioning of the tantalum circuits.”
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.
First lithium concentrate product delivery is anticipated in April 2018.
Each of Tawana and AMAL executed separate offtake agreements 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 offtake
agreements 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.
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

Forward Looking Statements
This announcement may contain certain forward looking statements and projections, including regarding estimated
resources and reserves, production and operating costs profiles, capital requirements and 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 forward looking statements, and disclaims any obligation to update or revise
any forward looking statements based on new information, future events or otherwise except to the extent required
by applicable laws. While the information contained in this announcement 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 announcement. 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.

14 March 2018

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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