MRF - Merafe Resources Limited - Merafe Resources` participation in the
MRF
MRF
MRF - Merafe Resources Limited - Merafe Resources` participation in the
Koornfontein Coal Mine
MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
("Merafe Resources" or "the Company")
Merafe Resources` participation in the Koornfontein Coal Mine
Merafe Resources previously announced that it was considering its option to
acquire a 50% stake in the 49.998% interest that Sentula Mining Limited
(Sentula) had acquired in the Koornfontein Coal Mine (Koornfontein).
After careful consideration Merafe Resources has decided not to exercise its
option to acquire the 50% of the 49.998% in Koornfontein.
Merafe Resources and Sentula, as partners in Merafe Coal, are, however,
continuing to pursue other coal opportunities together including the development
of Schoongezicht and Bankfontein. These properties have total resources of
approximately 9,4 million tonnes. Prospecting rights in respect of Schoongezicht
and Bankfontein have been granted and Merafe Coal should be in a position to
commence mining during the second half of 2009.
Sandton
13 June 2008
Sponsor
Deutsche Securities SA (Proprietary) Limited
Date: 13/06/2008 08:00:02 Produced by the JSE SENS Department.
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