Tawana receives Mofe Creek Scoping Study results

THE DRILL SERGEANT: Tawana Resources (ASX: TAW) has received results of a Scoping Study carried out on the company’s 100 per cent-owned Mofe Creek iron ore project in Liberia.

The company said the Study has delivered excellent technical and financial results along with project design and development simplicity.

Key results from the Scoping Study for the Stage 1 development of a 2.5 million tonnes per annum project include:

 

Source: Company announcement

 

Tawana indicated it will commence a Pre-Feasibility Study on the Mofe Creek project immediately and intends to advance discussions with potential strategic partners, off-takers, debt providers and financiers, in order to fast-track the development of the project.

“This study validates the opinion of the Executive Management team that Mofe Creek ticks all the boxes with low Capex, low operating costs, significant operating margins, a premium plus-65 per cent iron product and a lifespan of at least 14 years,” Tawana Resources executive chairman Wayne Richards said in the company’s announcement to the Australian Securities Exchange.

“We are positioned to become a globally competitive, highly-profitable producer with a long-term logistics plan that will ensure the timely and economic development of the Mofe Creek project.

“It has strategically positioned the project as a potential bottom quartile operating cost producer, with long-term logistics solutions designed to be implemented sequentially, from forecast cashflows and/or strategic funding.”

Website: www.tawana.com.au