| Fri 28 Nov 2008, 11:00 | | BRE - Braemore Resources Plc - Notice of annual general meeting |
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BRE
BRE
BRE - Braemore Resources Plc - Notice of annual general meeting
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 Resources plc ("Braemore" or "the Company"; AIM: BRR, JSE: BRE)
will hold its Annual General Meeting ("AGM") at 10:30am today in
London. At this meeting, Braemore CEO, Leon Coetzer, will address
shareholders regarding the Company`s progress over the past year
and the outlook for the year ahead. Coetzer, appointed on 1 July
2008, will make the following comments:
"This has been a significant year for Braemore. The Company has steadily
advanced its strategy within both its platinum and nickel
operations. The continuing successful operation of our
demonstration platinum group metal (PGM) smelting facility in
Johannesburg, South Africa, has not only generated cash flow but
also proved the economic viability of our ConRoast technology. The
facility is currently ramping up from 75% to 100% capacity
utilisation and the recent off-take agreements signed with Anglo
Platinum and Northam have secured smelter feed amidst an uncertain
environment in the PGM sector. On the nickel side, a review of
project economics and related development options regarding the
Leinster project is ongoing and will be concluded within the first
quarter of 2009."
"Our goal of becoming the first independent, empowered PGM producer in
South Africa is on-track and we are excited by the opportunities
available to us. The appointment of Dr Mathews Phosa as our non-
executive Chairman has been an important step towards realising our
ambitions. By joining forces Dr Phosa and I are able to combine
significant platinum mining and business experience which has
enabled us to identify the right partners with whom to pursue our
business strategy and a black economic empowerment (BEE)
transaction."
"Braemore`s strengthened management team remains focused on driving the
Company towards profitability and believes that challenging market
conditions will only make our innovative technologies more
compelling for potential business partners."
The AGM presentation "Review of progress to date" will be made available
on the Braemore website, www.braemoreresources.com, after the AGM
has taken place.
For further information contact:
Braemore Resources Plc
Leon Coetzer, Chief Executive Officer
+27 11 875 6540
WH Ireland: (Nomad and joint broker)
James Joyce
+44 207 220 1666
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 Taylor or Charmane Russell
+27 11 880 3924
Parkgreen Communications: (UK Public relations)
Sue Scott/Louise Goodeve
+44 207 933 8780
Sasfin: (RSA Corporate Sponsor)
Sharon Owens
+27 11 809 7762
London
Sponsor
Sasfin Capital (A division of Sasfin Bank Limited)
Date: 28/11/2008 11:00:01 Produced by the JSE SENS Department.
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