allAfrica.com reports that this follows the company having received various approaches regarding its intentions for the funding and development of the project. A review will allow the company to explore all potential funding and development scenarios with the aim of maximising shareholder returns.
The company recently completed a maiden 2,500m reverse circulation drill programme at the project, which has an exploration target of 500Mt of friable iron formation.
Significant intersections include 40m at 46% iron, 56m at 37.9% iron and 40m at 49.9% iron.
The project is just about 20km from the coast and the most likely development scenario would see construction of a haul road for trucking of product to the coast and trans-shipment via barge or conveyor to deeper water for on-shipment.
Other possible infrastructure solutions exist; road or rail to the deep water port of Monrovia; a 100km sealed road exists from the central licence area to the city of Monrovia.
In addition to this a decommissioned standard gauge iron ore railway alignment exists from the Bomi Hills mine to the port of Monrovia; 20km east from the easternmost magnetic anomaly. Rail distance from Mofe Creek to the port of Monrovia is 65km.
Tawana had US$1.26 million in cash as of 31 March 2013.
Source: allAfrica.com. For more information, click here.
