Tawana Resources

Tawana Resources' shareholders voted to proceed with the merger with Alliance Mineral Assets, consolidating ownership of the Bald Hill lithium project in Western Australia. Tawana expects federal court approval on December 3, 2018.

Tawana Resources secured a $40 million funding package from a consortium led by Tribeca Investment Partners to support its merger with Alliance Mineral Assets and fund lithium and tantalum circuit additions at the Bald Hill mine in Western Australia.

Tawana Resources' proposed merger with Alliance Mineral Assets, valued at $446 million, received a 'no objection' response from the Australian Treasurer, satisfying a FIRB condition. The merger will create a new company with 50-50 ownership, dual-listed on ASX and SGX.

Tawana Resources and Alliance Mineral Assets, partners in the Bald Hill lithium mine joint venture, announced plans to merge, consolidating ownership of the operation. The merger is subject to approvals.

Tawana Resources and Alliance Mineral Assets received a $4.375 million prepayment from Burwill Holdings under the Bald Hill lithium offtake agreement. The EPC contract for the DMS processing plant is progressing, with commissioning expected in Q1 2018.