| Mon 19 Jan 2009, 13:00 | | BRE - Braemore - First PGM Production Update |
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BRE
BRE
BRE - Braemore - First PGM Production Update
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")
FIRST PGM PRODUCTION UPDATE
- Braemore Resources Plc ("Braemore" or "the Company"; AIM: BRR, JSE: BRE) is
pleased to confirm platinum group metal (PGM) production figures for the first
period of operation for its 3.2MW smelter at the Mintek facility.
Since being commissioned last September, the enlarged Mintek smelter has
produced 5,971 ounces of PGMs ;
- Braemore has achieved a recovery rate of 99.52% from the high-chrome
content PGM concentrate feed;
- Further 50% expansion of current capacity underway to address increased
demand for the smelter technology.
Since October 2007, Braemore has successfully treated low-PGM content, high-
chrome smelter feed at its ConRoast demonstration facilities using Mintek`s DC
arc furnace in Johannesburg, South Africa.
In September 2008, Braemore announced the successful installation of the new,
enlarged 3.2MW smelter at the Mintek facility. The new facility is capable of
processing around 2,000 tonnes of concentrate and other smelter feed per month
and producing PGMs in an iron-nickel alloy at an annualised rate of up to 70,000
ounces per year, depending on the feed grade.
The smelter has been ramping up to capacity since October 2008 and has produced
a total of 5,971 ounces of PGMs since restarting smelter operations. In
December alone, the smelter produced 4,024 ounces of PGMs from high-chrome
content feed, averaging 83g/t of PGMs and 3% chrome. Smelter recoveries
averaged 99.52% over this period and chrome content was as high as 4.84%.
Leon Coetzer, CEO of Braemore, commented:
"This is an exceptional recovery rate for a smelter processing high-chrome, low-
PGM content concentrates and the smelter is well on its way to achieving its
annualised PGM production targets. We have achieved an important milestone for
Braemore along our stated strategic path of transitioning from the original
"proof-of-concept" smelter to a commercially-viable facility."
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
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/Leah Kramer
+44 207 933 8780
Sasfin: (RSA Corporate Sponsor)
Sharon Owens
+27 11 809 7762
Johannesburg
19 January 2009
Sponsor
Sasfin Capital (A division of Sasfin Bank Limited)
Date: 19/01/2009 13:00:01 Produced by the JSE SENS Department.
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