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Tawana Resources NL
Summary
| Project: | Bald Hill | |
|---|---|---|
| Deposit: | Bald Hill | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 7/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 11-7-2017: Tawana Resources NL announces a Pre-Feasibility Study report for its Bald Hill deposit at the Bald Hill project. JV - Initial lithium ore reserve and PFS results incl. NPV(10%) A$83.1M, IRR of 185.03%. Tawana Resources NL (“Tawana” or the “Comp | |
| Resources: | (Reserve, Prob.): 4.3Mt @ 1.18% Li2O, 208ppm Ta2O5 at project | |
| CP/QP: | [Resources]: Matthew Zcobb, Ralph Porter (CSA Global Pty Ltd.) | |
| ABSTRACT: | Tawana Resources NL (“Tawana” or the “Company”) is pleased to announce that the Bald Hill Mine in Western Australia (Project) is on track to become a low-cost producer of quality spodumene (lithium) concentrate in early 2018 following outstanding results from a Pre-Feasibility Study (PFS). Tawana Resources NL (“Tawana” or the “Company”) is pleased to advise the results of the Pre-Feasibility Study (“PFS”) on the Bald Hill Lithium-Tantalite Project (Project), located south east of Kambalda, Western Australia. The Project is set to become a low-cost producer of high-quality spodumene (Lithium) concentrates in Q1 2018. The PFS was completed by Tawana with the assistance of a group of highly experienced consultants and contractors. In particular, the DMS plant capital and operating costs (including maintenance) were compiled by Primero Group (Primero). Subsequent to the PFS level estimate, Primero has provided Tawana and its Joint Venture Partner, Alliance Mineral Assets Limited (together the Joint Venture Parties) with a fixed price lump sum commitment (which is now included in the PFS) to build the DMS plant which has given the Joint Venture Parties certainty on the capital estimate. Primero have recently commissioned a DMS lithium plant in Western Australia and are currently involved in several significant lithium projects globally. All figures throughout this announcement regarding the Project and the PFS are, unless expressly stated to the contrary, are presented on a 100% of Project basis. All production targets and financial information based on production targets, are supported exclusively by the ore reserves discussed below under the heading “Mining / Reserves”. Tawana, through its 100% owned subsidiary Lithco No. 2 Pty Ltd, has earned a right to 50% of all lithium minerals from the tenements comprising the Project, with a right to farm in to 50% of the Project (including tenements, plant and all minerals) through a further A$12.5M of capital expenditureA . Tawana has sufficient funds to meet this earn in requirement. | |
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