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TWP Fin

Posted: Wed, 30 Apr 2008

[miningmx.com] -- TWP Finance, a wholly owned subsidiary of TWP Holdings Ltd, has concluded a joint venture agreement with the South African-based BEE company, Increase Coal (Pty) Ltd, that will see TWP Finance conducting conceptualisation and pre-feasibility studies on this greenfields project based in the Ermelo-Bethel area of Mpumalanga.

TWP will earn up to about 35% in Increase Coal at the conclusion of the pre-feasibility study. Early exploration work has already been undertaken at the site.

“The owner of Increase Coal’s new prospecting mining rights, MJ Modupo, has the project and we’re bringing the engineering capabilities, market intelligence and commodity analysis skills to take it up the value curve. Collectively, we will take it all the way to a fully operating venture over next 12 to 18 months," said Dean Cunningham, CEO of TWP Finance.