hi charlie have a read of AQA announ 30th March. TAW have 6.76% of a very large manganese deposit. I believe it will be sold once a 'mining right' is granted.
and from AQA quarterly
"Avontuur The divestment process for the Avontuur Manganese Project continued during the Quarter and final bids are expected during the March Quarter 2012.
"Avontuur Manganese Project ? The Definitive Feasibility Study for the Gravenhage Manganese Project was completed during the Quarter, indicating the viability of a 1.5Mtpa ROM mine and processing facility for medium to high grade manganese ore for export and domestic supply. ? The Gravenhage Manganese Deposit Resource (JORC) has been increased to 117.9Mt at 38.3% Mn, 67% of which is in the Measured and Indicated categories. ? A maiden JORC compliant Reserves Statement was completed with 20.2Mt at 40.1% Mn of Proved and Probable Reserves. ? The Mining Right is expected to be granted in the March Quarter 2012. ? Open pit production is forecast to commence in 2015, with underground operations commencing after five years of operations. ? New manganese discoveries have been made at the Avontuur and Haakdoorn prospects where manganese has been intersected in lodes similar to the high-grade Upper Lodes at the Gravenhage Manganese Deposit. ? JORC compliant Resource Statements are expected in the March Quarter 2012 for the Avontuur and Haakdoorn discoveries. "
now TAW MC is about $19m currently. Its a stretch to say The manganese is worth $19m but i'd say it could be worth at least $6m and 'underpins' the sp. We will know soon.
TAW Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held