| Wed 11 Mar 2009, 17:30 | | ARQ - Anooraq Resources Corporation - Further cautionary announcement |
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ARQ
ARQ
ARQ - Anooraq Resources Corporation - Further cautionary announcement
Anooraq Resources Corporation
(Incorporated in British Columbia, Canada)
(Registration number 10022-2033)
JSE share code: ARQ
TSXV share code: ARQ
NYSE Alternext share code: ANO
ISIN: CA03633E1088
("Anooraq" or "the company")
Further cautionary announcement
Shareholders are referred to the cautionary announcements dated 2 October 2008,
14 November 2008, 12 December 2008 and 28 January 2009 relating to the purchase
by Anooraq from Anglo Platinum Limited ("Anglo Platinum") of an effective 51% of
the Lebowa Platinum Mine ("Lebowa") and an additional 1% controlling interest in
each of the Ga-Phasha, Boikgantsho and Kwanda joint venture projects ("the
Transaction").
Shareholders are advised that discussions between Anglo American plc (the
majority shareholder of Anglo Platinum), Anglo Platinum, Anooraq and Pelawan
Investments (Pty) Limited (the majority shareholder of Anooraq) regarding the
Transaction, as well as its associated financing strategy, are at an advanced
stage.
Shareholders are further advised that the joint technical review of the current
Anglo Platinum-approved mine plan and capital program for Lebowa, referred to in
the cautionary announcement dated 14 November 2008, is currently being
finalised. An updated technical report on Lebowa is being prepared in
compliance with National Instrument 43-101. This report will be filed on
www.sedar.com in due course as an update to the technical report prepared by
Snowden Mining Industry Consultants in April 2008.
Shareholders are advised to continue to exercise caution when trading in Anooraq
securities until such time as a full announcement can be made.
11 March 2009
Corporate adviser and sponsor to Anooraq
QuestCo
Transaction advisers to Anooraq
North Corporate Finance Advisory Services
Standard Bank
For further information on Anooraq and its South African properties, please
visit our website www.anooraqresources.com or call investor services in South
Africa at +27 11 883 0831 or in North America at 1 800 667 2114.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
The NYSE Alternext has neither approved nor disapproved the contents of this
press release.
Cautionary and Forward Looking Information
This release includes certain statements that may be deemed "forward looking
statements". All statements in this release, other than statements of
historical facts, that address potential acquisitions, future production,
reserve potential, exploration drilling, exploitation activities and events or
developments that Anooraq expects are forward looking statements. Anooraq
believes that such forward looking statements are based on reasonable
assumptions, including assumptions that: the Transaction will complete; Lebowa
will continue to achieve production levels similar to previous years; Anooraq
will be able to complete its financing strategy on relatively favourable terms;
and the Ga-Phasha and Platreef Project exploration results will continue to be
positive. Forward looking statements however, are not guarantees of future
performance and actual results or developments may differ materially from those
in forward looking statements. Factors that could cause actual results to
differ materially from those in forward looking statements include market
prices, exploitation and exploration successes, changes in and the effect of
government policies with respect to mining and natural resource exploration and
exploitation and continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and those actual results or
developments may differ materially from those projected in the forward looking
statements. For further information on Anooraq, investors should review the
Company`s annual information form filed on www.sedar.com or its form 20-F with
the United States Securities and Exchange Commission and its other home
jurisdiction filings that are available at www.sedar.com.
Date: 11/03/2009 17:30:03 Produced by the JSE SENS Department.
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