MMH - Miranda Mineral - Coal Division update - Inc
MMH
MMH
MMH - Miranda Mineral - Coal Division update - Increase in Shareholding
MIRANDA MINERAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/001940/06)
Share code: MMH & ISIN: ZAE000074019
("MMH" or "the company" or "the group)
Miranda Coal Division update - Increase in shareholding - Sesikhona Kliprand
Colliery (Pty) Limited.
The board of Miranda Mineral Holdings Limited ("MMH") is pleased to announce
that in line with the group`s strategy of extending its holdings in coal assets,
its wholly owned subsidiary, Molebogeng Mining and Investments (Pty) Limited
("Molebogeng"), has increased it shareholding in Sesikhona Kliprand Colliery
(Pty) Limited ( "Sesikhona") to an effective 88% from 60%. The remaining 12% of
the issued shares are held by the local Kliprand community.
Sesikhona holds a prospecting right issued by the Department of Minerals and
Energy ("DME") over four adjoining farms situated in the magisterial district of
Dannhauser, KwaZulu-Natal, with an estimated resource of approximately 22
million metric tonnes of high-grade anthracite.
Additional drilling and bulk sampling will take place in the current and third
quarter of this year with a view to preparing a SAMREC-compliant Competent
Person`s Report and upgrading the deposit to that of an Indicated Resource.
It is envisaged that the local community will be actively engaged so that broad-
based empowerment occurs at project level, thus providing tangible benefits for
this community.
7 May 2007
Centurion
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 07/05/2007 15:16:07 Produced by the JSE SENS Department.
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