| Wed 13 Aug 2008, 17:45 | | BRE - Braemore - Press Release - Expansion of Braemore smelting facility on |
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BRE
BRE
BRE - Braemore - Press Release - Expansion of Braemore smelting facility on
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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")
PRESS RELEASE
EXPANSION OF BRAEMORE SMELTING FACILITY ON TRACK
Braemore Resources plc is pleased to report that the company has started the
expansion process at the ConRoast demonstration facility at Mintek in South
Africa. The upgrade, undertaken at a cost of some R33 million, will increase the
smelter capacity to 3.2MW and enable the production of up to 70,000 ounces of
PGMs per annum. The expansion is expected to be completed during September
2008.
Since October 2007, Braemore has successfully treated low PGM, high chromium
content smelter feed at its facility using Mintek`s DC arc furnace in South
Africa at a rate of around 1,000 tonnes per month of low grade feed to produce
iron nickel alloy containing PGM, with recoveries typically running at greater
than 98%.
In just over 10 months, Braemore smelted 8,279 tonnes of low PGM, high chromium
content smelter feed and produced approximately 15,000 ounces of PGMs (3 PGMs +
Au) in granulated alloy form. Production is projected to reach 20,000 ounces
of PGMs by year-end, depending on the feed grade. Most of this material has been
successfully sold via sales contracts for delivery of smelted PGM alloy to
international refiners and South African PGM producers, all of whom have
expressed satisfaction with the PGM and base metal product.
Leon Coetzer, CEO of Braemore Resources plc, commented:
"The smelter upgrade is a significant next step in Braemore`s strategy of
bringing the ConRoast process into full commercial production. Small scale
roasting and smelting tests on a range of PGM concentrates have now been
satisfactorily demonstrated, and the trial converting tests of the PGM alloy
have been successful. These samples have been used as feed for subsequent
additional leaching tests on the alloy and a conceptual design has been prepared
for a hydrometallurgical pilot plant."
For further information on the Company, please visit
http://www.braemoreresources.com/
For further information:
Braemore Resources plc
Leon Coetzer
Chief Executive Director +27 11 875 6540
Investec Bank (UK) Limited: (Nomad and Joint broker)
Gerard Kisby-Green + 44 207 597 5167
Mirabaud Securities: (Joint broker - UK)
Rory Scott +44 207 878 3360
Qinisele Resources: (Advisor - SA)
Dennis Tucker +27 82 492 4957
Russell and Associates: (Investor Relations -SA)
Charmane Russell +27 11 880 3924
Parkgreen Communications: (Public relations - UK)
Sue Scott +44 207 933 8780
Johannesburg
13 August 2008
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 13/08/2008 17:45:03 Produced by the JSE SENS Department.
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