| Wed 10 Sep 2008, 8:00 | | BRE - Braemore Completes Smelter Upgrade PGM Prod |
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BRE
BRE
BRE - Braemore Completes Smelter Upgrade, PGM Production to Increase
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")
Braemore completes smelter upgrade, PGM production to increase
Braemore Resources Plc ("Braemore") is pleased to announce the successful
installation of the new 3.2MW smelter at the Mintek facility in Johannesburg,
South Africa. The new facility is capable of processing around 2,000 tonnes
per month and producing PGMs in an iron-nickel alloy at an annualised rate of
up to 70,000 ounces per year depending on feed grade.
The smelting facility will steadily increase production over the coming weeks
to reach these targeted processing rates. Braemore accelerated the upgrading
of the smelter from an initial shut-down period of eight weeks down to four
weeks in order to meet the current levels of demand for smelting high-chrome
concentrates.
Leon Coetzer, Chief Executive Officer of Braemore, said, "We have completed
this upgrade ahead of time and on budget, and are pleased to be delivering
on our stated objectives. We have worked closely with Mintek to commercialise
their technology and we look forward to providing an economically and
technologically viable smelting solution to the PGM sector."
Braemore`s 10MW smelter development programme is on track, with the
Definitive Feasibility Study completed as planned and currently under
internal and peer review. The study has covered a range of feedstock options
and the appropriate capital expenditure for the project will be finalised
once the optimal smelter feed source is determined, anticipated to be in the
4Q 2008.
For further information please visit our website at www.braemoreresources.com
or contact:.
For further information please visit our website at www.braemoreresources.com
or contact:
Braemore Resources plc
Leon Coetzer
Chief Executive Officer +27 11 875 6540
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)
Nicola Brower or Charmane Russell + 27 11 880 3924
Parkgreen: (UK Public relations)
Sue Scott +44 207 933 8780
Johannesburg
10 September 2008
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 10/09/2008 08:00:06 Produced by the JSE SENS Department.
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