Court approval for Tawana and Alliance

Company News

by Rachael Jones

The Federal Court of Australia has approved the scheme of arrangement between Tawana Resources NL (ASX:TAW) and its shareholders under which Alliance Mineral Assets (ASX:AGS) will acquire 100 per cent of the ordinary shares in Tawana.

Tawana intends to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission today at which time the Scheme will become effective.

The two companies are joint venture partners in the Bald Hill lithium-tantalum mine in Western Australia’s Eastern Goldfields.

Shares in Tawana Resources NL (ASX:TAW) closed 5 per cent higher to $0.32.