read the Quately there seeking other projects, by the sounds of it Uranium is very much on the cards
Part of the quartely below worth reading for hints:
Corporate Guma Strategic Alliance The Company has formed a strategic alliance with Guma Resources (Proprietary) Limited (“Guma Resources”), a subsidiary of Guma Capital (Proprietary) Limited (“Guma”). The Guma group of companies is a diversified investment group based in Johannesburg that is black owned and managed. The Guma group was established in 1997 by successful South African entrepreneur Robert Matana Gumede.
TAWANA RESOURCES Quarterly Report December 2006 60 Wilson Street VIC 3141 Telephone: +61 (0)3 98635222 Fax +61 (0)3 98635288 www.tawana.com.au Guma focuses on multi-faceted businesses where it can add value and assist in their growth potential. In addition to several private investments in diversified sectors, Guma owns 36.6% of GijimaAST, that is one of South Africa’s largest IT companies and is listed on the JSE. GijimaAST posted revenues of R1.95 billion (A$344.4 million) in the last financial year and received 8th place overall in the Financial Mail/Empowerdex Top 200 Empowerment Companies Survey 2006. In 2005, Robert Gumede, chairman of Guma, was runner up in the South African Chapter of the World Entrepreneur of the Year. The strategic alliance provides Tawana with a black-controlled business partner with the ability to leverage of its sizeable net asset base and introduce resource projects via its strong networks throughout Africa. The purpose of the strategic alliance is to combine the exploration and mining skills of Tawana with the financial, entrepreneurial, accounting and business skills of Guma to explore for, develop and mine diamond and other mineral deposits in South Africa, Botswana, Namibia, Mozambique and other countries as agreed by the parties. The alliance will comprise two stages. The first will be to identify, assess and acquire mineral rights to projects deemed to be worthy of progressing. The second stage will involve the formation of joint ventures on a project by project basis with the aim to confirm the economic merit of the projects via the completion of definitive feasibility studies adequate to secure debt financing. The participation in Stage One will be on a 50:50 basis and thereafter the participating interests will be dependent on the nature of the specific projects. Tawana will lead the alliance with Guma’s hands-on involvement. Tawana’s long standing relationship with Seven Falls will continue on the existing projects in South Africa and Botswana and will be further strengthened with the appointment of Seven Falls Chairman, Thabo Makweya (former MEC for Economic Affairs in the Northern Cape), as CEO of Guma Resources.
TAW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held