Bald Hill on track for lithium production in Q1 Calendar Year 2018

Transcription

1 28 Nvember 2017 Bald Hill n track fr lithium prductin in Q1 Calendar Year 2018 Tawana Resurces NL (TAW:ASX) (Tawana) and Alliance Mineral Assets Limited (SGX:AMA) (AMAL) are pleased t prvide an update n wrks at the Bald Hill Mine, in the Eastern Gldfields regin f Western Australia, where lithium cncentrate prductin is n track t cmmence in Q1 CY18. The Bald Hill prject (the Prject) is a jint prject between Tawana and AMAL. Highlights Engineering, prcurement and cnstructin (EPC) cntract fr Lithium Dense Media Separatin (DMS) circuit prgressing n schedule: Design is 88% cmplete Structural steel installatin well-advanced Bins and hppers being installed Screens and pumps n site Majrity f mechanical equipment delivered Electrical installatin cmmenced Preferred mining cntractr selected and mbilised t site. Preferred crushing cntractr selected and preparing t mbilise. Fuel and Pwer cntracts awarded. Tawana s Managing Directr Mark Calderwd stated: Structural steel wrk is nw well advanced and placement f mechanical equipment and electrical cabling has cmmenced. We have selected mining, crushing, pwer and fuel cntractrs, and the mining cntractr has mbilised t site. The prject is cming t life, with significant increases in manning levels, and we remain cmmitted and fcused n delivering lithium cncentrate frm Bald Hill during the first quarter f 2018.

2 EPC Update Engineering design is 88% cmplete. Cncrete wrks are 99% cmplete. Buried services (electrical/piping) prgressing with cnduits & pits being psitined/installed and HDPE piping installatin cmmenced. Steelwrk erectin is well advanced with majrity f hppers, tanks and chutes installed. Prcurement f majr equipment is cmplete, with deliveries ccurring prgressively t supprt the sequence f cnstructin. Majr Cntracts Preferred Crushing cntractr selected, with mbilisatin expected in early December. Fuel and Pwer cntracts awarded. Nn-Prcessing Infrastructure engineering well-advanced and prcurement cmmenced. Abut the Bald Hill Prject The Bald Hill Prject cmprises fur mining leases, ne mining lease applicatin, 12 explratin licences, eight prspecting licences and ne general purpse lease ttalling 774km 2. The prject is wned 50:50 by Tawana and AMAL. The first lithium cncentrate prductin is targeted fr the first quarter f The Prject is fully funded t first shipment. Each f Tawana and AMAL executed an fftake agreement in April 2017 (and subsequent variatins theret) fr the supply f lithium cncentrate frm Bald Hill ver a five-year term with pricing fr 2018 and 2019 f US$880/t (FOB Esperance) fr 6% Li 20. The prepayments frm the afresaid fftake agreement are being used twards the capital csts f the Prject. The Prject is lcated 50km sutheast f Kambalda in the Eastern Gldfields f Western Australia, and apprximately 75km sutheast f the Mt Marin Lithium prject. Refer Figure 1. A current Indicated and Inferred lithium Mineral Resurce f 18.9 millin tnnes at 1.18% Li 20, and 149ppm Ta 20 5 at a 0.5% Li 20 cut-ff fr the Prject was calculated by CSA Glbal Pty Ltd. 1 The Prject remains significantly underexplred and significant drilling is planned fr Figure 1 Prject Lcatin map

3 Figure 2 Structural steel main DMS building Figure 3 Underflw hppers and screen decks being installed

4 Figure 4 Pumps being installed Figure 5 Thickener

5 Figure 6 ROM Feed Bin and Transfer Statin Figure 7 Electrical Cabling

6 Figure 8 Remving Waste Figure 9 ROM Pad cnstructin

7 Frward Lking Statement This reprt may cntain certain frward lking statements and prjectins regarding estimated, resurces and reserves; planned prductin and perating csts prfiles; planned capital requirements; and planned strategies and crprate bjectives. Such frward lking statements/prjectins are estimates fr discussin purpses nly and shuld nt be relied upn as representatin r warranty, express r implied, f Tawana Resurces NL and/r Alliance Mineral Assets Limited. They are nt guarantees f future perfrmance and invlve knwn and unknwn risks, uncertainties and ther factrs many f which are beynd the cntrl f Tawana Resurces NL and/r Alliance Mineral Assets Limited. The frward lking statements/prjectins are inherently uncertain and may therefre differ materially frm results ultimately achieved. Tawana Resurces NL and/r Alliance Mineral Assets Limited des nt make any representatins and prvides n warranties cncerning the accuracy f the prjectins, and disclaims any bligatin t update r revise any frward lking statements/prjects based n new infrmatin, future events r therwise except t the extent required by applicable laws. While the infrmatin cntained in this reprt has been prepared in gd faith, neither Tawana Resurces NL and/r Alliance Mineral Assets Limited r any f their directrs, fficers, agents, emplyees r advisrs give any representatin r warranty, express r implied, as t the fairness, accuracy, cmpleteness r crrectness f the infrmatin, pinins and cnclusins cntained in this presentatin. Accrdingly, t the maximum extent permitted by law, nne f Tawana Resurces NL and/r Alliance Mineral Assets Limited, their directrs, emplyees r agents, advisers, nr any ther persn accepts any liability whether direct r indirect, express r limited, cntractual, trtuus, statutry r therwise, in respect f, the accuracy r cmpleteness f the infrmatin r fr any f the pinins cntained in this annuncement r fr any errrs, missins r misstatements r fr any lss, hwsever arising, frm the use f this annuncement. End Ntes 1. All material assumptins and technical parameters underpinning the Mineral Resurce estimates in the ASX annuncement dated 11 Octber 2017 / SGX annuncement dated 12 Octber 2017 cntinue t apply and have nt materially changed since it was last reprted.