Tawana Resources raises $5.4 million to advance projects
Friday, 28 October 2016 11:25
Tawana Resources, active on the Uis lithium project in Namibia has announced a fundraising for AU$7.2 million ($5,484,669) to advance its projects.
Fundraising will take place in two tranches, during which 60 million shares will be placed at $0.12 per share. The firm said added during the first step 29.6 million shares will be issued and in the second 30.3 million shares.
Tawana will use proceeds from the first tranche to advance drilling program at its Cowan lithium project, conduct due diligence on the adjoining Bald Hill Mine, in Western Australia and complete drilling and metallurgy at the Uis lithium project in Namibia.
Funds from the tranche 2 will solely be used to advance Australian lithium projects.
The Uis project is estimated to hold a reserve of about 20 million tons coming from one the world’s largest pegmatite mines.
Louis-Nino Kansoun
Live News
-
Japanese Sumitomo Plans Exit From Madagascar’s Ambatovy Mine After Years of Losses
10:54
-
Tony Elumelu Foundation review highlights shift toward platform-based SME support in Africa
10:49
-
Egypt Raises Clean Energy Target With Major Wind Power Plan
10:30
-
As Oil Pressure Builds, West African Governments Diverge on Fuel Prices
10:27
-
Afriland First Bank retains 2025 banking leadership title at Finance Week
10:13
-
Cameroon pushes private capital as driver of CEMAC growth at Finance Week
09:49
-
BEAC governor rules out CFA devaluation, flags reforms amid mixed CEMAC outlook
09:47
-
Zambian Startup ZeroAI Expands STEM Education in Low-Resource Schools
09:06
-
Tivvio Bets on Community-Driven Ticketing Market in South Africa
09:03
-
Moroccan Entrepreneur Brahim Ennabihi Expands Access to Expert Services With Khabiry
09:01
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From WHO-led efforts to strengthen pandemic preparedness to measles vaccination drives in Uganda, al...
Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...
Sumitomo to sell its 54.17% stake in Ambatovy, ending a two-decade involvement Repeated disruptions and weak nickel prices have weighed on output and...
TEFConnect used in latest 2026 review to track impact across entrepreneurship programmes in Africa Foundation expands multi-partner model combining...
Côte d’Ivoire and Benin join other WAEMU states in raising fuel prices after global oil surge Brent crude has climbed about 60% since the Iran conflict...
Ivory Coast received 24,185 applications for 3,225 available teacher training and civil service positions in 2026. Candidates face intense competition,...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....