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The feasibility study is targeted for completion at the end of March, while plant commissioning is being flagged for October.
Bald Hill already has established infrastructure from a tantalum operation, with Tawana spending $A20 million to earn a 50% stake – with a Singapore company to divest the 50% to the ASX junior.
The proposed 1 million tonne per annum lithium development will require installation of a concentrator (utilising DMS separation), and will likely implement a contract crushing arrangement.
Tawana raised $7.2 million in October by issuing new shares at 12c.
Tawana’s shares were up 14% to 16c in morning trade, capitalising the company at $60 million.
Prior to its move into the lithium space last year, the stock was trading at levels of about 2-3c.
The Mark Calderwood-led company is one of many ASX-listed companies now in the lithium space, though it will be one of the very, very few in production if it meets its 2017 target.
