As you can see by this chart, TAW is still well under valued...below is a summary of where the company is at...
Board of Directors
Euan Luff Non Executive Chairman Julian Babarczy Non Executive Directors Harry Hill Non Executive Directors
Avontuur Manganese Project (6.76%)
Aquila Resources Ltd controls and is developing the Avontuur Manganese project located in South Africa. Tawana Resources owns 26% equity stake in Rakana Consolidated Mining, who is a JV partner of Aquila in South Africa.
The Avontur resource is 34Mt @ 40% Mn which would be considered medium to high grade. There are two separate resources 25km apart, with one only 20km north of Samncors Wessels mine. The larger of the two is the Gravenhage resource at 32.5Mt @ 39.9% Mn, which is relatively shallow, and suitable for a 1Mtpa operation with a mine life of 15 years.
Aquila Resources has recently passed a significant milestone in accessing the rail and port capacity necessary for the development of Avontuur. AQA has been successful in the long term manganese export allocation process to qualify participants for the Manganese Industry Forum to be established by Transnet Limited.
There remains significant potential for resource upgrades with the resource open along strike and down dip. The size, grade, and commercial potential of this resource are consistent with the other producing mines in Australia and South Africa.
Southern Cross Equities expected mining to commence in 2013/14 and on the 8th of March 2010 valued the Avontuur project at $585M.
Oropa Project (Tawana 30%, Firestone earning 70%)
Tawana has previously announced that it has entered into a joint venture agreement with Firestone Diamonds plc ("Firestone") a London Stock Exchange listed international diamond mining and exploration company with operations in Botswana and South Africa. Firestone is in the process of earning initially up to a 70% interest in any kimberlites in the prospecting licenses controlled by Tawana in Botswana by carrying out costs for first stage bulk sampling. Tawana then retains the right to fund its remaining 30% interest from that point or alternatively Tawana can then elect to reduce its ongoing interest to 15% (for further details of the agreement with Firestone, please refer to Tawanas ASX announcement of 22nd December 2009).
South Africa
Kareevlei Wes Project, Kimberley Region, South Africa (Tawana 100%)
St. Augustines Kimberlite Project, Kimberley, South Africa (Tawana 30%)
Valuation Fully Diluted
TAW Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
