Become a Member

Track your favourite stocks
Create & monitor portfolios
Daily portfolio value

Company	Chg	Chg %
Quickpicks
£	%
Add shares to your quickpicks to display them here!

Shareholder Letter

23rd Apr 2009 15:56

RNS Number : 0715R

Dwyka Resources Limited

23 April 2009

Dwyka Resources Limited ('Dwyka' or the 'Company')

Shareholder Letter

The Directors of Dwyka Resources Limited ('Dwyka' or the 'Company') advise that the following CEO's update letter was posted to shareholders today.

Dear Shareholder

It is a couple of months since I last wrote to you. There seem to be some glimmers of hope on the horizon of the world's economy so I feel as a junior resources company that a cautiously optimistic approach is now warranted. Dwyka's expenditures are still at a minimum and your Company's cash assets are still robust at GBP 6.9m (AUD14.4m).

I have updated you in the same format as the last letter so that you are able to track progress.

1. The Muremera Nickel Project in Burundi – Dwyka has successfully secured 100% ownership of this Project, despite BHP Billiton having spent more than US$7m on exploration and being entitled to own 10% of it. This is an excellent outcome for Dwyka and allows the Company the flexibility to proceed with the Project exploration programme alone or identify appropriate partners to assist in its further development.

The next round of drilling will commence in the coming weeks. An announcement will be made as soon as it starts.

2. The SwaziGold Project – We are finalising the analysis of the work done to date to determine whether Dwyka will continue to sole fund further exploration of the project (to increase its ownership level) or pursue other joint venture mechanisms to progress the project to the next stage.

3. Assessment of acquisition opportunities – Excellent progress has been made in this area and we hope to have announcements ready in the near future. Our team has assessed a large number of Projects and settled on a shortlist which we believe will meet the approval of shareholders.

I would like to assure you again that the Board is very aware of its duties and is focused on presenting shareholders with details of projects for acquisition and development in the near future. I will continue to write to you on a regular basis with progress reports to supplement the Company's other announcements.

If you would like more detailed information on any of the topics I have outlined above please do contact me directly on [email protected]. I would be happy to email you or speak with you. I encourage you to subscribe to automatically receive Dwyka's stock exchange announcements by logging onto the website at www.dwyresources.com and entering your details.

With warm regards.

Yours sincerely,

Melissa Sturgess

CEO

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCKGGZDDFGGLZM

Related Shares:

FTSE 100 Latest

Value8,275.66

Change0.00