SNU - Sentula Mining - Termination Of Merafe Coal Joint Venture And Awarding
SNU
SNU
SNU - Sentula Mining - Termination Of Merafe Coal Joint Venture And Awarding
Of Mining Licence
SENTULA MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
("Sentula")
TERMINATION OF MERAFE COAL JOINT VENTURE AND AWARDING OF MINING LICENCE
In June 2007, Sentula announced the formation of a 50/50 joint venture with
Merafe Resources Limited ("Merafe"), known as Merafe Coal. Merafe Coal`s
objectives were to develop existing coal projects in its portfolio, as well as
to pursue further coal opportunities in South Africa.
Shareholders are hereby advised that an agreement has been reached between
Sentula and Merafe to terminate the Merafe Coal joint venture. Sentula will
continue in its own capacity to pursue the development projects attributed to
the joint venture and will meet the obligations placed upon it by the Mineral
Resource and Petroleum Development Act. In terms of the agreement, Sentula has
funded all the historic costs and will continue to fund the present and future
costs associated with these projects.
Sentula is also pleased to announce that a small scale mining licence has been
awarded to the Malungwa Coal project in Southern Zambia, in which Sentula holds
a 25% stake, through its investment in Indongo Mining Limited. This will enable
Sentula, as the managing stakeholder, to proceed to the next phase of project
development.
Johannesburg
2 March 2010
Sponsor
Merchantec Capital
Date: 02/03/2010 08:00:06 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
