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BRE
BRE
BRE - Braemore Strengthens Conroast Technology Position
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 strengthens ConRoast technology position
Braemore Resources (AIM: BRR, JSE: BRE) is pleased to announce revisions to its
ConRoast Technology Agreement with Mintek.
The revised ConRoast agreement further strengthens the technology partnership
formed between Mintek and Braemore which provides for the commercial
exploitation of the ConRoast technology through the smelting and refining of
platinum group metals ("PGMs").
The amended agreement comes at an important juncture in Braemore`s growth with
the development phase drawing to a conclusion and plans for the accelerated
commercialisation of the ConRoast technology.
Two key points within the amended agreement are as follows:
- Braemore Platinum has consolidated its sole, exclusive right to use and
commercially exploit the ConRoast technology within the PGM industry on a
global basis.
- An extension of the exclusivity period is available to Braemore for the
life of the ConRoast patents which expire in 2020 and can be nominated at
Braemore` s election by giving notice prior to reaching the end of the
current exclusivity period.
Leon Coetzer, CEO of Braemore, commented, "This extension and continuing
exclusivity reflects the considerable progress we have made and the results
we have achieved to date in the development and application of the ConRoast
technology. The revised agreement represents a strengthened foundation from
which to accelerate the commercialisation of the technology through further
partnerships or joint ventures with PGM producers."
Enquiries:
Braemore Resources Plc
Leon Coetzer, Chief Executive Officer
+27 11 557 6413
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/Charmane Russell
+27 11 880 3924
Walbrook PR: (UK Public Relations)
Louise Goodeve/Leah Kramer
+44 207 933 8780
Sasfin: (RSA Corporate Sponsor)
Sharon Owens
+27 11 809 7762
Johannesburg
1 July 2009
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 01/07/2009 08:00:01 Produced by the JSE SENS Department.
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