TAW 0.00% 31.0¢ tawana resources nl

tawana - diamonds

  1. 2,780 Posts.
    lightbulb Created with Sketch. 12
    Keep an eye on this stock and check out what it is doing. A whole raft of activity and announcements due over the comimg days and weeks. Any one of them could give the price a tick along. Low market cap, DeBeers all over them, and some very interesting tenements. TAWO gives more gearing and practically trading at the money with another 7 months to go.
    Activities report below FYI.

    Directors would like to advise an indicated timetable of operations
    and events for the Company for the remainder of this year.

    FLINDERS ISLAND DIAMOND PROJECT

    FINAL RESULTS OF 2002 WORK PROGRAM

    Tawana has recently received results of approximately 80 soil samples
    from De Beers Australia Exploration Limited. Analysis of the results
    will complete the 2002 work program. Results are expected to be
    released to shareholders later this week.

    TAWANA OPTION

    Tawana has a two-stage option to acquire 100% of the Flinders Island
    Diamond Project from the tenement holder; Orogenic Exploration Pty
    Ltd.

    Tawana must exercise stage one of this Option by December 5th. This
    Option is to purchase 80% of the Project from Orogenic Exploration
    Pty Ltd for the payment of A$200,000.

    DE BEERS OPTION

    De Beers Exploration Australia Limited has a two-stage option to
    acquire 51% of the Flinders Island Project from Tawana. De Beers
    Australia Exploration Limited has indicated that it will make a
    decision whether to exercise the option once it has assessed the
    results from the 2002 exploration program. This decision is expected
    during December.

    TIMBER CREEK DIAMOND PROJECT

    COMPLETE DIAMOND RECOVERY RESULTS FROM 2002 TC-01 KIMBERLITE WORK
    PROGRAM

    X-ray (UltraSort) diamond recovery processing is due for completion
    by December 6th. The concentrate produced from this processing will
    be transported to Melbourne for final diamond recovery and analysis.
    Diamond recovery results are expected prior to Christmas.

    VALUATION OF TC-01 DIAMONDS

    The Company intends to submit the 2002 TC-01 diamond production for
    independent valuation shortly after recovery is completed. Results of
    this are expected by the end of January 2003.

    PERDEVLEI DIAMOND PROJECT

    COMPLETE DIAMOND RECOVERY RESULTS FROM K1 KIMBERLITE WORK PROGRAM

    The concentrate produced from this work program is currently awaiting
    final diamond recovery in the De Beers facility in Kimberley South
    Africa and analysis by Tawana. Diamond recovery results are expected
    by late December.

    Prepared by: Wolf Marx
    MANAGING DIRECTOR

    For further information:

    Philip Chisholm
    DIRECTOR
    Telephone: +64 4 5627019
    Fax: +61 3 99097788
    Mobile: +64-21-460059
    Email: [email protected]
    Web Site: www.tawana.com.au
 
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