BUSINESS OF LITHIUM

TAWANA SUSPENDS TRADING

DUALLY listed Tawana Resources has suspended trade in its stock until next Tuesday when it would probably make a significant announcement. The lithium producing mining house said yesterday that the Tawana shareholders had been advised that the securities of Tawana Resources (TAW) would be placed in trading halt at the request of TAW, pending it releasing an announcement. Unless the Australian Stock Exchange decides otherwise, the securities will remain in trading halt until the commencement of normal trading on Tuesday, September 25. There were no indications about the nature of the announcement, nor commentary on the reasons for the halt. Earlier this year, Tawana Resources’ share price initially jumped 12 percent to R4.50 before dropping 80c to R3.70 as the market digested an update on its proposed merger with Singapore-listed Alliance Mineral Assets. In April, Tawana intended to merge its Bald Hill lithium mine in Western Australia with Alliance, while unbundling its remaining “non-core” projects into a company provisionally called SpinCo. – Banele Ginindza