Tawa Share Discussion Threads

[jimarilo] 15/9/2009 22:36

Hi Phil,

All is explained in the link below, the company intends to buyback up to 10% of the share capital to show a more realistic NAV up to 127p

The buyback programme kicks off from 28th September 09

[philjh] 15/9/2009 21:59

new to this one - whats the buyback programme you're referring to please?

[jimarilo] 15/9/2009 21:57

Nearly 20% since Monday morning, should be a nice couple of weeks coming up

Still no sign of the herd ;-)

[topvest] 15/9/2009 21:42

Another nice rise today. Results on the 28th and then we get the share buy back programme.

[jimarilo] 15/9/2009 07:04

Agreed fillipe

I to am amazed, but very glad to have climbed aboard thanks to RBCRBC on the fool for the heads up

[fillipe] 14/9/2009 23:30

I'm amazed that so few peeps appear to have picked up on this one so far! Impressive annual report available on download from TAWA. These guys are certainly a very £££ wised-up crew.

Wonder what their int's on the 28/9 will look like? If they're any good, then coupled to even the "threat" of a buy-back, the share price looks like going a whole lot nearer to nav that it is at the moment.

[jimarilo] 14/9/2009 22:58

Very little shares in free float and soon to be reduced by a further 10%

Not a whole lot of risk here it would seem, looking forward to ....127p ;-)

[topvest] 14/9/2009 22:06

All buys today - very strong. 35k shares bought and this goes ballistic. Tightly held or what!!

[topvest] 14/9/2009 21:30

Excellent - seems to be getting back to a half sensible valuation. They are going to struggle to buy-back shares at this rate!!

[jimarilo] 14/9/2009 16:21

Looking good so far today

Online deals have been consistent throughout

Can sell in size @ 3/4p above the bid and buy just 1K, anymore and it needs to be called through

[jimarilo] 14/9/2009 08:27

Hi TV

Good post on the fool over the weekend



"Any shares purchased will be held in treasury or may be cancelled."

[topvest] 09/9/2009 19:22

I thought I would start a thread on this little known insurance run-off business - just bought a few as I thought it looked cheap ahead of the interims and expected better investment returns this year.

I suspect NAV is close to US$2 per share so on a whopping discount, even given the recent rally. Downside is that is clearly controlled by the big shareholders and so minority shareholders are a tad exposed.

Any thoughts?

[energyi] 06/5/2006 10:08

au.TAW Tawana Res.
..

Tawana is a Melbourne based ASX listed diamond explorer evaluating diamondiferous kimberlites and alluvials in Australia and South Africa

The Eastern Gravel project, on the bigger Daniel project area, is considered the most advanced development and could become a commercial operation in the not too distant future.

This project is a venture between Tawana (74%) and Seven Falls (26%), with the latter including personalities such as Thabo Makweya, former Economic Affairs and Tourism MEC in the Northern Cape, Thami Mabija, Nchaka Moloi, and media celebrity and former Miss South Africa, Basetsana Khumalo.

Tawana has three other prospects in South Africa - Tawana Alluvials, Kareevlei Wes and Perdevlei - at various stages of development and is exploring Seola in Botswana, which is situated between De Beers' Orapa mine and Francistown.

In Australia, meanwhile, it has entered into an exploration joint venture with De Beers and is evaluating several prospects.

-
The grade of KV1 and KV2, estimated from the recovered diamonds and the expected recoveries from the oversize material, is 8.57 carats per hundred tonnes. The grade reported to date from the crushed plus 6mm material is confirming this expectation. This is considered to be the minimum grade before a multiplier is established from a future mining operation.

Diamonds from KV1 and KV2 were valued at US$110 per carat with the valuers predicting substantially higher values of up to US$150 per carat if larger parcels could be provided. This prediction was supported by subsequent statistical analysis of the diamond size distribution of the parcel from the KV1 and KV2 kimberlites, which suggested that a value of US$164 per carat was a reasonable expectation for diamonds from these kimberlites. (see Tawana release 5 October, 2005) The same statistical analysis also suggested that the grade would be increased by 25% if larger parcels could be provided. Applying the suggested 25% uplift raises the estimated grade to very near the historic 11 cpht.

The value per tonne of KV1 and KV2 from the valuations and the estimated grade is between US$9.35 per tonne and US$13.94 per tonne with a possible higher value, based on statistical analysis, of US$18.00 per tonne. The estimated operating cost of open cut kimberlite mining and processing in South Africa is US$7.70 per tonne

The 1.4 hectare KV2 pipe is estimated to contain 2 million tonnes to a depth of 100m. The size of KV1 has been determined by drilling to accurately determine the surface area occupied by the kimberlite pipe at 1.2 hectares. This drilling also showed that KV1 and KV2 are connected and part of the same larger pipe with two lobes. A parcel of 33.24 carats of diamonds from KV3 was valued by Mr Katz, a licensed wholesale diamond trader in Johannesburg, at US$170 per carat. (see Tawana release 5 October, 2005)

= =
Versus ASX index


1:3 Underwritten Non-renounceable Rights Issue
On 13 April 2006 the Company announced a non-renounceable rights issue on the basis of 1 new share for every 3 fully paid ordinary shares held on the Record Date to issue up to 21,493,747 shares at $0.35 (Rand1.61) per share.

The rights issue is underwritten by ABN AMRO Morgans Corporate Limited and will raise approximately A$7.5 million (before expenses). It is anticipated that the net proceeds raised from the rights issue, will be applied by the Company to fund exploration on existing tenements, the development of the Kareevlei Wes Project and working capital requirements of the Company.


= = = = =
LINKS:
Corporate website :
ASX page for TAW. :

[schober] 22/2/2006 08:46

things may be less bad...

3rd kimberlite found; alluvial grades ok

[schober] 06/2/2006 16:04

new presentation - doesnt look too promising - therir owner ship seems to have been diluted somewwhat, which would appear to explain the slid from 1.25$ >> 0.5$ -65m shares + 22m ops

[ianwc] 23/12/2005 23:07

no i don't think they are coming to aim. they need to concentrate on repairing their share price imo. taking a beating recently.

[schober] 27/11/2005 10:21

listed on jse 4 nov, sopresumably not coming to aim

project update p1

21 November 2005
Company Update
Summary
In the last six months Tawana has commenced trial mining on its major, near surface, alluvial diamond project – the Eastern Gravels. Grade and valuation data are being used by Snowdens to finalise a scoping study. Tawana has also completed initial drilling and processing of Kareevlei Wes kimberlite pipes now the subject of a pre-feasibility study by Snowdens. In Australia, Tawana has finalised a deal with De Beers to form a 50:50 JV for all exploration activities in Australia. The major focus is the recently discovered diamond bearing kimberlite fissure in the Pilbara known to extend over several kilometers.
Highlights
South African Projects
Processing of Eastern Gravels continues with trial mining in a section of the gravels down to a depth of 8m; expected extent of mining is 15m.
New kimberlites identified by drilling on Falcon® targets A1 and A2 in the Daniel Kimberlite Project.
Processing of minus 6mm material from Kareevlei Wes kimberlites completed. Processing of crushed plus 6mm material commenced confirming previous grade estimates.
Prospecting Rights over additional kimberlite targets near Eastern Gravels expected to be granted soon.
Australian Projects
Ground based gravity survey completed over Blacktop kimberlite to define extent.
Follow up sampling on anomalous drainages in Pilbara Project completed.................more




intersuisse report may be of inteeest


i wonder if the 17.8m 75c ops will be exercised and if not what happens next??
(shares out 60.4m)

[ianwc] 01/7/2005 11:57

South African Project Update
June 27 2005
Highlights
Drilling of selected Falcon® kimberlite targets in the Daniel Kimberlite project is progressing.
Continued processing of Eastern Gravels has now recovered 219 diamonds weighing 31.95 carats.
Statistical analysis of the diamonds recovered from the Eastern Gravels indicates that they are not derived from the Finsch Mine but from an as yet undiscovered proximal kimberlite.
Commissioning of the DMS test plant for the Perdevlei and Kareevlei pipes has been completed and testing of the bulk samples from the pipes has begun and diamonds are being recovered.
Daniel Kimberlite Project
(BHP Billiton 70% /Tawana 30% and operator)
A drilling program of Falcon® kimberlite targets within previously granted Prospecting Permits commenced in April 2005 and is nearing completion. Drilling on three of the Falcon® targets (A31, A64 and A65) intersected Banded Iron Stone country rocks. Basal sediments intersected above these rocks have been submitted to a laboratory in Perth to analyse for the presence of kimberlitic indicator minerals. Drilling on one of the targets (A29) intersected a non-kimberlitic volcanic pipe. Drilling on A86 intersected an ultra-mafic tuff which has also been sampled and submitted to the Perth laboratory for identification. Results of all samples are expected during July.
Drilling is currently underway on anomaly MR1, which is immediately upstream of the Eastern Gravels. Drilling has reached a depth of 80m with the target depth being 100m.
Tawana Alluvial Diamond Project
(Tawana 100% and operator; BHP Billiton 2.5% gross royalty)
Eastern Gravels
To 20th June a total of approximately 3000 cubic meters of Eastern Gravels had been processed resulting in the recovery of 219 diamonds weighing a total of 31.95 carats. This includes the previously reported largest stone recovered of 4.66 carats. The average stone size for the Eastern Gravels is 0.15 carats per stone.
TAWANA RESOURCES NL
Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com
TAWANA RESOURCES A comparison based on the statistical analysis of the diamonds recovered from the Feeder Channel and those recovered from the Eastern Gravels has been undertaken. This has led management to the surprising conclusion that the Eastern Gravel diamonds are not derived from the Finsch kimberlite. The exciting implication of this analysis is that there must be another kimberlite in the vicinity of, or under, the Eastern Gravels.
The Falcon® survey data over this area are being re-examined as a matter of urgency.
Kareevlei Wes
(Tawana 100%)
Construction of the Dense Media Separation plant to test the 6500 tonnes of Bauer drilled bulk samples from the five kimberlites in the Kareevlei cluster has been completed and processing has commenced.
The first sample being processed for final commissioning purposes is from a Bauer drill hole located in the north western section of pipe KV2. (See Diagram 1). 10 inch percussion drilling during 2003 in this section of KV2 recovered no diamonds. The current processing of the Bauer drill sample has already recovered 62 diamonds weighing 14.54 carats from the first 318 tonnes of kimberlite. The largest diamond recovered weighs 1.62 carats and the average stone size is 0.23cts.
This is a very positive result and yet again shows the impact of the "nugget effect". Small samples = smaller (or zero) diamonds; large samples = larger (and more) diamonds.
*Note; The Company considers that any tonnage and grade estimates in this report do not satisfy the definition of a Mineral Resource as set out in the JORC Code as insufficient work has been conducted to be able to determine the grade and tonnage of the deposit with greater accuracy. Further work may or may not establish a Mineral Resource on the property. Accordingly, the estimate of grade is released as provided by paragraph 18 of the JORC Code of 2004 in relation to an exploration target or exploration potential. The diamonds were recovered from the minus 19mm plus 1.5mm fractions of gravels and kimberlite sampled by 2.5m diameter Bauer drill holes. The gravels were processed in one of the Company's Dense Media Separation plants with diamond recovery by a Flowsort x-ray plant and a grease table.
W T Marx (BSc, BA, FAusIMM, CPGeo)
MANAGING DIRECTOR
For enquires contact:
Wolf Marx
Tel: [phone]
Mob: [phone]
Email:[e-mail]
The

[ianwc] 24/6/2005 09:21

look to me like it's time to BUY! 75cent area should hold imo.

[ianwc] 13/6/2005 15:01

6 June 2005
PLACEMENT SUCCESS
Placement
On Friday 3 June, Tawana Resources NL ("The Company") placed 2,666,667 shares with sophisticated investors raising $2,000,000 to supplement the Company's working capital.
Of the total shares placed Tawana directors contributed 666,667 November 2005 $0.75 options into the raising. As a result, and by procuring those options' early exercise, the dilutionary effect of the placement has been limited to 2,000,000 shares.
Purpose of raising
To accelerate the Company's two main programs for:
• achieving diamond mining producer status, including engaging professional mining consultants
• the rapid drilling and assessment of the kimberlite targets in the vicinity of De Beers' Finsch diamond mine in South Africa.
Kareevlei Wes and Perdevlei
Owned 100% by Tawana. 7 pipes with a total surface area of ~ 12 hectares.
Earlier drill-indicated grades strongly suggested the potential for a diamond mining operation on a significant scale. The already commissioned special Dense Media Separation ("DMS") plant is treating the 2004 Bauer- drilled 6500 tonne Kareevlei Wes kimberlite sample. This is to refine and confirm the earlier grade estimates. As part of this process, the next stage would be to mine much larger bulk samples, involving a simple bolt-on scale-up of the DMS plant.
At the same time, Snowden Mining Consultants ("Snowdens") have been appointed to complete a pre-feasibility study aimed at confirming project economics, scale, and estimated capital and operating costs.
The Tawana Alluvials
Owned 100% by the Company.
Processing of the drill samples is continuing. A larger scale pit, or costean, will be excavated. This trial mining will go some way towards overcoming the difficulties associated with assessing alluvial grades, notably the "nugget effect".
Snowdens have been contracted to do a scoping study to determine what further work may be required to take the project to a stage where the overall economics can be assessed.
The Daniel Project
A joint venture between BHP Billiton and the Company. The Company is operator.
The kimberlite exploration component of the joint venture requires the Company to drill-test a minimum number of the 25 Falcon®- generated potential targets within a
TAWANA RESOURCES NL
Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com
TAWANA RESOURCES Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com defined area around the Finsch mine. Permitting is in process over tenements which contain attractive targets.
Managing Director, Wolf Marx said: "Access to additional kimberlite targets within the BHP Billiton joint venture area will be facilitated in the near future, as one of the benefits of our recently completed Black Empowerment Agreement is realized. There are several very exciting targets that we will move on as soon as the tenements are granted."
The services of the Bauer drill are being retained. After small diameter drilling of the targets, and where appropriate, the Bauer will enable selected minibulk samples to be rapidly procured.
Mr. Marx summed up: "The Snowdens studies will be reviewed in the December quarter. Positive outcomes could see the Company move to larger scale mining, particularly of the Kareevlei Wes kimberlites. We welcome the enthusiastic response to our placement. The additional funds will ensure that the Company's accelerated program is funded to year end, by which time further working capital requirements may be satisfied by the exercise of the November 2005 $0.75 options.

[ianwc] 31/5/2005 16:31

1. European institutions understand the junior exploration sector
2. European PI's are more willing to invest in junior explorers.
3. Increased shareholder base and improved liquidity
4. Easier to raise money in Europe.

5. You are a moron.

[jaygino] 31/5/2005 16:29

can anyone explain why there are so many two bit mining companies from countries such as Australia listing on AIM ?

[ianwc] 31/5/2005 16:28

Leon has been upping his stake in Tawana! Now holds over 5 million shares!

[ianwc] 31/5/2005 16:27

Annual General Meeting 2004
Chairman's Address
25 May 2005
Ladies and gentlemen, it is a pleasure to welcome you to my first Annual General Meeting as chairman of Tawana. I am also pleased to report that I am an original seed shareholder from 1999. It is an exciting step for me, with the scene set for Tawana potentially to transform from diamond explorer to diamond miner. It is hoped that the addition of mining and corporate management experience to the Company will assist Tawana to capitalise on the excellent exploration results that Wolf and his team have achieved.
Wolf Marx, our Managing Director, has been responsible for driving Tawana's exploration effort and its growing success. Leon Daniels is an executive director based in Botswana. Leon has been crucial in securing new tenements and obtaining landowner agreements, while monitoring and keeping our exploration activities on track in South Africa and Botswana. Euan Luff is a non-executive director and provides valuable legal and commercial advice. Harry Hill is our Company secretary and financial manager.
Also attending today is Glenister Lamont who advises Tawana on corporate strategy and with shareholder relations. He has a sound background in diamond exploration and mining.
After the formal section of this meeting is concluded our Managing Director will present an update on the South African projects I would like to cover a number of points by way of introduction.
On page 9 of the 2004 annual report is a picture of some of the key members of the Tawana exploration and development group in South Africa. These are the people managing our alluvial and kimberlite programs, including the operation of the dense media separation plant currently treating the Eastern Gravels samples. Tawana is fortunate to have assembled a team having such diverse diamond exploration experience.
While on the subject of the team, I want to thank on behalf of the Board one of our founding directors, Philip Chisholm, for his contribution to the Company. Philip retired from the Board in December 2004, and we are pleased that he has agreed to advise Tawana on a project basis. Philip sends his apologies for not being able to attend today's meeting.
Tawana values its ongoing partnership with BHP Billiton in South Africa. The application of BHP Billiton's Falcon® technology and ongoing technical input is the basis of the exploration targeting in the Daniel project area. A number of targets identified by the Falcon® technology are in tenements where
TAWANA RESOURCES NL
Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com
TAWANA RESOURCES Chairman' Address 2004 AGM Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com applications for the right to explore are yet to be granted.
In our kimberlite joint venture with BHP Billiton in the same area, drilling continues to test for the presence of kimberlites. We should have some answers on the 5 targets we are drilling by the end of June
After nearly 24 months of negotiations, in April Tawana and Seven Falls (Pty) Ltd completed a Black Economic Empowerment Agreement This important relationship facilitates the advancement of Tawana's business objectives in South Africa, underpinning security of tenure and at the same time facilitating tenement acquisitions, permitting and dealing with regulatory authorities. Seven Falls will assist in commercial areas as well as providing support and advising in local government and community relations.
The Company is at an advanced evaluation stage on several of its projects. Although our base programs of ongoing fundamental exploration will continue while there are well defined prospects and targets, we hope to be in a position to move to trial mining on two projects later in 2005.
We are about a quarter of the way through treating samples from the bulk sampling program on the Daniel alluvials, and have found diamonds in every sample tested. Processing the remainder of the samples will continue to the end of August. Assuming continued good results, we then would then undertake a scoping study aimed at supporting a decision in October to commence trail mining of the alluvials. This would involve taking a significant sample and treating it through a plant having a larger capacity than the 350tpday unit used for sample treatment. Success with the trial mining phase could lead to establishment of a commercial scale mining operation by the end of 2006.
Evaluation of bulk samples at the Kareevlei and Perdevlei kimberlites will commence early in June, with initial results expected to be available by the end of August. This will form the basis for a feasibility study on trial mining which if successful, could lead to trial mining in early 2006. Again, this has the potential to result in a commercial scale mining operation before the end of 2006.
We have appointed Snowden Mining Consultants to assist with the formal scoping studies of the alluvial and kimberlite projects. This will provide the Company with a starting point for determining base economics of each project, as well as what additional work may be required to complete project feasibility.
In the past year we have focused on the South African assets which have the potential to be advanced to the development stage in the medium term. Our Australian projects have received limited attention, to ensure that tenements are sustained in good order. These will be reviewed by the third quarter of this year to move these projects forward.
We now have a good balance of opportunities with projects ranging from early stage exploration to drilling and bulk testing. Our funding needs will depend on the outcome of the studies I have mentioned, however we anticipate the exercise of the outstanding 75 cent options in November will provide over $13 million, and underpin the ongoing exploration as well as development of our diamond projects.
TAWANA RESOURCES Chairman' Address 2004 AGM Suite 213, Level 2, 530 Little Collins St., Melbourne, VIC 3000 Telephone: [phone] www.tawana.com I would like to thank our long standing shareholders for their continuing support. We recently visited New Zealand where some 125 shareholders braved a chilly Wellington evening to attend an update on the Company's program. It is hoped that our strong, long standing support base can be rewarded over the coming 18 months, as our exploration projects potentially move through development to operating status. Wolf regularly produces a graph showing the forecast distribution of diamonds in the Daniel alluvials. The larger diamonds that will complete the plot are what we expect to find in the trial mining program over the coming months; their discovery would go some way to underpinning shareholder support for these programs.
I would now like to move to the formal business of the meeting.