PET - Petmin Limited - Commissioning of Somkhele P
PET
PET
PET - Petmin Limited - Commissioning of Somkhele Project and Further Cautionary
PETMIN LIMITED
(Previously Petra Mining Limited)
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code: PET & ISIN: ZAE000010237
("Petmin", "the company" or "the group")
COMMISSIONING OF SOMKHELE PROJECT AND FURTHER CAUTIONARY
Shareholders are referred to the Interim Financial Statements published on SENS
on 5 March 2007, an extract of which is set out below :
SOMKHELE
"The Somkhele Anthracite Project is nearing completion and first sales are
expected during the second quarter"
The Somkhele mine has a Samrec compliant CPR indicating proven and probable
reserves of 24.2 million Run of Mine tonnes ("ROM (t)") and resources of 81.59
million ROM (t). At the planned rate of production of 1 million ROM (t) per
annum, the reserves will sustain a 25 year life of mine.
Petmin is pleased to announce that the Coal crushing, washing and screening
plant with a nominal design throughput capacity of 120 000 ROM (t) per month was
commissioned on 1 June 2007 and will be fully operational by 1 July 2007.
The open pit development is on track and approximately 30 000 ROM (t) has been
stockpiled for processing and an additional estimated 150 000 ROM (t) is
scheduled to be exposed by the end of June.
Petmin has approved an extensive exploration and drilling program to increase
the proven and probable reserves.
FURTHER CAUTIONARY
Shareholders are advised that the company is still in negotiations, which if
successfully concluded may have a material effect on the price of the company`s
securities. Accordingly, shareholders are advised to exercise caution when
dealing in Petmin`s securities until a full announcement is made.
Sponsor
River Group
Johannesburg
04 June 2007
Date: 04/06/2007 11:03:01 Produced by the JSE SENS Department.
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