| Wed 4 Jun 2008, 13:43 | | SAL - Sallies Limited - New order mining rights |
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SAL
SAL
SAL - Sallies Limited - New order mining rights
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL & ISIN: ZAE000022588
("the company")
Sallies Limited is pleased to announce that it has received new order mining
rights for its Witkop mine from the Department of Mineral and Energy Affairs
(DME).
At a meeting with the DME for the North West Province on Tuesday, 3 June 2008
the new order mining rights for Witkop were notarised.
The execution converted 4219 ha on the farm Wintershoek to new order mining
rights and secured new order mining rights on 2402 ha of the farm Buffelshoek.
As reported in the H1 F2008 interim statement for Sallies, Witkop`s total
reserves and resources amounted to 70,3 million tonnes as at 31 December 2007.
These provide a healthy base for the future at the current extraction rate of
1,8 million tonnes per annum.
Tom Dale, chairman and CEO of Sallies, thanked the DME, the NUM and the Witkop
team for the tremendous effort they had put in to deliver the new order mining
rights to shareholders.
"I would like to give special thanks to Aaron Kharivhe, Regional Manager DME and
his team, Piet Mogale, NUM branch chairperson for Witkop and his team, Casper
Badenhorst, the General Manger of Witkop, Christian Phephenyane, Human Resource
Manager and Hendrik Hanekom, Safety, Health, Environment and Quality Manager for
all their hard work."
Dale said the new management team of Sallies is determined to deliver value to
shareholders.
"This is evident in the success of the recent capital raising exercise, the
sharply higher prices being achieved by Witkop which has already led to small
profits at Witkop in recent months, early signs of improving output levels and
now successfully obtaining the new order mining rights."
Johannesburg
4 June 2008
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 04/06/2008 13:43:03 Produced by the JSE SENS Department.
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