|
BRE
BRE
BRR - Braemore Resources Plc - Pan Palladium Shareholders Vote Against Grass
Valley Joint Venture With Braemore
BRAEMORE RESOURCES PLC
(A company incorporated in England and Wales with Registration Number 5350550)
(South African registration number: 2008/013973/10)
Share code on the JSE Limited: BRE
Share code on AIM: BRR & ISIN: GB00B06GJQ01
("Braemore" or "the Company")
PAN PALLADIUM SHAREHOLDERS VOTE AGAINST GRASS VALLEY JOINT VENTURE WITH BRAEMORE
Braemore has been advised by Pan Palladium Limited (PPD) that its shareholders
have today voted against the issue of shares and options to Braemore in
accordance with the Heads of Agreement entered into by the companies on 12
December 2007, over the Grass Valley platinum group metal (PGM)/base metal
deposit in the Platreef area in South Africa.
Braemore had agreed to spend in total AUD6m to earn a 50% interest in PPD`s
project over 30 months by completing feasibility studies and in turn, subject to
meeting certain criteria, the potential to own up to 43% of PPD`s issued capital
through the subscription for shares and the exercise of options, subject to the
approval of PPD shareholders.
Mr. Clayton Dodd, Executive Director of Braemore, said: "Whilst we are
disappointed by the PPD shareholder decision, we remain confident - particularly
in light of heightened interest in the ConRoast technology following our recent
JSE listing - in securing similar arrangements with other emerging UG2 and
Platreef PGM and base metals producers. Whilst the agreement is now at an end,
we will continue to maintain an active dialogue with PPD over the projects
future development."
PPD is listed on The Australian Stock Exchange, code PPD.
For further information:
Braemore Resources plc
Clayton Dodd
Executive Director +6 141 891 9864
Investec Bank (UK) Limited: (Nomad and joint broker)
Gerard Kisby-Green + 44 207 597 5167
Mirabaud Securities: (Joint broker)
Rory Scott 44 207 878 3360
Qinisele Resources: (RSA Corporate advisers)
Dennis Tucker +27 82 492 4957
Russell and Associates: (RSA Public relations)
Charmane Russell +27 11 880 3924
Parkgreen: (UK Public relations)
Sue Scott +44 207 933 8780
Johannesburg
30 July 2008
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 30/07/2008 12:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
