SpinCo (soon renamed Cowan Lithium) was formed in early 2018 when Tawana Resources it would spin out its secondary assets in order to focus on its Bald Hill project. The assets to be transferred to SpinCo (collectively the “Assets”) will include:
the 100% owned Cowan Lithium Project in Western Australia comprising
tenements that are adjacent to the Bald Hill Mine (“Cowan”);
the 100% owned Yallari Lithium Project in Western Australia comprising
tenements that cover portions of the greenstone sequence that hosts the
Mt Marion and Londonderry pegmatite fields (“Yallari”); and
the 100% owned Mofe Creek Iron Ore Project in Liberia (“Mofe Creek”).