ASX RELEASE:
11 December 2014
ASX : TAW
CORPORATE DIRECTORY Exec. Chair Wayne Richards
Managing Director Len Kolff Non-Exec. Dir Matthew Bowles Co. Sec. & CFO Michael Naylor
Mofe Creek Iron Ore Project - Liberia, West Africa
LIBERIA: Proven Iron Ore Country
LOCATION: Project located 20km from coast, adjacent to historic rail alignment, 85km to Port of Monrovia
LITHOLOGY: High grade +33% Fe friable itabirite resource of
61.9Mt with ability to produce a
+64 to 68% Fe product
LOGISTICS: Private Haul Road, Barging, Transhipment or Direct ship loading
LEADERSHIP: Proven Executive Team with 'In-Country' Iron Ore expertise
Rakana JV (6.7%), South Africa Meletse Iron Ore and Avontuur Manganese JV managed by Baosteel Iron and Steel Group
Key Milestones:
- Scoping Study completion
- Maiden Resource Estimate announced
- Pre-Feasibility study commenced
- Mineral Development
Application commenced
- PFS Drilling Program and Resource Extension Upgrade commenced
- Environmental and Social Impact Assessment (ESIA) awarded
CONTACT DETAILS
288 Churchill Avenue
Subiaco Perth WA 6008
Email: [email protected] Website: www.tawana.com.au Phone: +61 8 9489 2600
Tawana Board & Executive Management Changes
Tawana Resources NL (ASX:TAW) would like to announce that as part of its continuing focus on the development of the Mofe Creek Project, the following Board and Executive Management changes have been implemented:
- Mr Wayne Richards will step in as the Chief Executive Officer and remain the Executive Chairman of Tawana Resources NL.
- Mr Len Kolff will become Technical Director, stepping down from the role of Managing Director. Mr Kolff will remain an Executive Director of the Board of Tawana Resources NL and any relevant subsidiary companies.
- Mr Matthew Bowles has resigned from the Board in order to focus on other business commitments. Mr Bowles has been a valuable member of the Board for over three years and the Board acknowledges his involvement and commitment during that time.
- In conjunction with Mr Bowles' resignation, current Tawana Chief Financial Officer and Company Secretary, Mr Michael Naylor will accept the role as Executive Director of the Board of Tawana Resources NL.
Mr Naylor has 18 years' experience in corporate advisory and public company management. Mr Naylor has previously worked as a Finance Director and Company Secretary of ASX listed Dragon Mining Limited; Chief Executive Officer and Managing Director of dual ASX/TSX-V listed Coventry Resources Inc. and is concurrently the Chief Financial Officer of Gryphon Minerals Limited.
All changes will take effect from 01 January 2015.
Tawana Executive Chairman, Mr Wayne Richards paid tribute to Mr Bowles' contributions to the Board: "We wish Matthew all the best in his future endeavours and thank him for his valuable contribution to the Board. We are also delighted that Michael will continue in his current CFO role whilst providing advice to the Board as required."
Mr Richards said "These changes are representative of the ongoing evolution of the composition of the Board and Executive team as we move into the next phase of the development of the Mofe Creek Project."
ASX RELEASE | 11th December 2014
In response to the Board and executive management changes and the current market conditions, the Company is considering a new remuneration structure. The Board has committed to review the remuneration structure of Mr Wayne Richards, in consideration of his increased role and levels of responsibilities as CEO and Executive Chairman. In the interim, Mr Wayne Richards has agreed to cancel his current Class B and Class C performance options.
For further information, contact:
Wayne Richards Executive Chairman Ph: +61 8 9489 2600