DWY - Dwyka Resources

ann out regarding possible t'o by Dwyka resources

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The Board of Dwyka notes the recent rise in the Company’s share price and confirms that it is currently undertaking due diligence on a third party which may or may not lead to an offer by Dwyka for all of the issued share capital of another company.

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the co ann doesn't indicate whether it was in response to an asx request

the sp has had a nice run up from 8c to 15c over the last week on small volume

dwy currently has a Ni project in africa (100% after bhp withdrew from a farm-in agreement) with drill targets, drilling commencing this month

a coal project in the phillipines, daguma/bonanza, has ceased operations due to dwy's withdawal from equity acquisition in order to preserve cash and concentrate on the Ni project

a gold project in africa (right to earn up to 90% of jv)

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Core drilling at Daisy Prospect returns gold values of 3.39 g/t over 10m
High grade intersection of 16.56 g/t over 1m
Trenching at Kobolondo Prospect returns several significant gold intersections

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The SwaziGold Project is a 435 square kilometre gold exploration project located in Swaziland on the extension of the highly prospective Archaean Barberton Greenstone Belt, historically a producer of 11.5m ounces of gold. Drilling has commenced at SwaziGold’s Daisy and Kobolondo prospects and the results continue to encourage the Company’s view that from historical and current workings there is the potential for the Project to host several million tonnes of high grade gold mineralisation.

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not much progression on the gold front since the above ann, dated apr '08

approx $14M in the bank

re t/o, another african play?

no change in sp since ann

cheers

Dwyka Resources (DWY) is now known as Nyota Minerals Limited (NYO).

Discussion of this company continues in the NYO thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=19674

This thread has now been closed.