TAW - Tawana unaffected by current electricity crisis in South Africa
TAW
TAW
TAW - Tawana unaffected by current electricity crisis in South Africa
Tawana Resources NL
(Incorporated in Australia)
Registration number ACN 085 166 721
Share Code on the JSE Limited: TAW
ISIN: AU000000TAW7
Share Code on the Australian Stock Exchange: TAW
ISIN: AU000000TAW7
("Tawana" or "the company")
TAWANA UNAFFECTED BY CURRENT ELECTRICITY CRISIS IN SOUTH AFRICA
In the light of recent reports that several Gold and Platinum Mining Houses
listed on the JSE had been forced to halt production at their South African
Mines as power cuts across the country by National Power Utility Eskom
threatened the safety of their employees, the Directors of Tawana Resources NL
are pleased to announce that none of Tawana`s current operations in the country
are affected by the power cuts since the Company generates sufficient
electricity itself off diesel powered generation plants to satisfy its own
electricity requirements.
Commenting on the electricity crisis in the country, Tawana`s Managing Director,
Wolf Marx said: "We at Tawana appreciate the seriousness of the current
inability of Eskom to satisfy electricity demand in the country. On the other
hand it is to the great credit of the authorities that they have followed
policies so conducive to growth in the country that the level of growth has
placed pressure on utility supplies. Given the buoyancy of resources prices,
Tawana is convinced that while the current situation is serious, sufficient
revenue will flow into the country to enable the authorities to develop the
additional utility capacity required. In the interim Tawana is satisfied that
the Managerial decision some years ago to develop its own generation capacity
was the correct one."
28 January 2008
Sponsor to Tawana
PricewaterhouseCoopers Corporate Finance (Pty)Ltd
Date: 28/01/2008 10:46:13 Produced by the JSE SENS Department.
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