Near term manganese producer, Shaw River Resources (ASX: SRR) has changed its name to Shaw River Manganese Limited. There is no change to Shaw River’s ASX code, SRR.
The name change reflects Shaw River's manganese exploration and development projects in Namibia, Australia and Ghana.
Shaw River is set to begin producing manganese from its Otjozondu Manganese Project in 2012 at an initial rate of 250,000 tonnes per annum, targeting 500,000 tonnes per annum within four years.
With a Scoping Study indicating strong operating cash flows in 2012, using a manganese price of US$4.50/dmtu FOB, against a modest A$37 million capital cost for an initial 250,000 tonnes per annum operation, Shaw River's market value of $75 million looks low relative to significant cash flows to be generated in 2012.