ELD
ELD
ELD - Eland - Eland subsidiary concludes PGM concentrate off-take agreement with
Rustenburg Platinum Mines Limited
Eland Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/029957/06)
(ISIN number: ZAE000078655)
Share code: ELD
("Eland Platinum" or "the Company")
Eland Platinum Holdings Limited subsidiary concludes PGM concentrate off-take
agreement with Rustenburg Platinum Mines Limited (RPM).
Eland Platinum announced today, 7 June 2007, that its subsidiary, Eland Platinum
Mines (Pty) Limited (Eland Mines), had concluded an off-take agreement
(agreement) with RPM, a wholly-owned subsidiary of Anglo Platinum Limited, for
the Platinum Group Metals (PGMs) concentrate to be produced from its
Elandsfontein Platinum Mine.
The detailed terms of the agreement, which remain confidential, are within the
ranges disclosed in Eland Platinum`s listing prospectus of March 2006 with the
exception that the agreement will no longer be in place for the "life of mine"
but rather for a defined cumulative mass of platinum delivered or a defined time
period, whichever occurs first, and is renewable under certain circumstances.
The agreement pertains to the concentrate produced from ore mined from the
original project area, as acquired from RPM in 2005, as well as the "triangle"
area, which was included in Eland Mines` mining right in 2006 and certain
portions of the farm Zilkaatsnek referred to in the listing prospectus.
David Salter, Eland Platinum`s managing director, said that he was pleased that
the agreement was in place and that concentrate deliveries are due to commence
in October 2007. "The agreement is fair to both parties and I must commend RPM
for being receptive to our concerns and needs as a new producer."
Shareholders of Eland Platinum are advised that the cautionary announcement of
12 April 2007, renewed on 28 May 2007, remains in effect and, accordingly,
shareholders are advised to exercise caution when dealing in Eland Platinum
shares until a further announcement is made.
Johannesburg
7 June 2007
Investment bank and sponsor
Nedbank Capital
Date: 07/06/2007 16:48:01 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
