Tawana Resources says it is undertaking a strategic review of potential financing and strategic partnership options to advance the development of its Mofe Creek Iron Ore project in Liberia.

The company said that it is undertaking this review as a result of approaches to the company regarding its intentions for the funding and development of its Mofe Creek project.

Tawana noted that its board feels it is important to explore all potential funding and development scenarios with the aim of maximising shareholder returns.

Meanwhile, the company also announced the resignation of its chairperson, David Frances, who commented: “I look forward to seeing the development of the exciting Mofe Creek iron ore project in the future, and wish the company and management every success”.

Tawana pointed out that it believes the current structure of the board is suitable for the current situation and does not propose to immediately appoint a replacement to the board.

Nonetheless, the company said it will continue to keep the market updated in relation to any material developments.

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