MRF
MRF
MRF - Merafe Resources Limited - Press release
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
("Merafe" or "the Company")
PRESS RELEASE
Shareholders are advised that, the Company gave a presentation today at the
Nedsec Midcap Conference in Cape Town, a copy of which is available on the
Company`s website (www.meraferesources.co.za).
The salient features of the presentation are:
- All 20 furnaces now in production
- Venture`s sales to the Far East up from 21% to 41% (mainly due to
China from 0% in 2006 to 20% in 2007)
- Chinese stainless steel production currently estimated at 6.8 million
tonnes with projections of 10 million tonnes by 2010
- Ferrochrome demand expected to grow slightly ahead of stainless steel
demand
- Ferrochrome prices expected to remain strong for the remainder of the
year and in 2008
- Reduction of Merafe debt to R350 million in 2008 - facility secured
with no capital repayments for five years
Sandton
18 September 2007
Sponsor
Deutsche Securities SA (Proprietary) Ltd
Date: 18/09/2007 11:00:02 Produced by the JSE SENS Department.
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