OTR MINING LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/006508/06)
("OTR")
FURTHER CAUTIONARY ANNOUNCEMENT
Joint venture between OTR Mining Limited ("OTR") and GB Mining and Exploration
SA (Proprietary) Limited ("GB Mining") ("the joint venture")
Further to the cautionary announcements dated 18 October 2000 and 14 December
2000, the board of directors of OTR is able to announce that the test work on
the first joint venture surface material project (500 000 tonnes) with GB
Mining is favorable and economically viable. In order to achieve a critical
mass and conclude a successful project, negotiations to acquire additional
material are taking place. If successful, a sustained long life project is
envisaged.
An announcement in respect of the abovementioned negotiations, the results of
the feasibility study and the project funding arrangements will be made in due
course.
Shareholders are further informed that the Department of Minerals and Energy
has approved the Environmental Management Programme for the prospecting of
Palmietfontein and that a prospecting permit has been issued. Exploration on
Palmietfontein, under the management of Mr Owen Dix of Craton Resources, has
commenced.
Shareholders should continue to exercise caution when dealing in OTR shares
until a further announcement is made.
Johannesburg
5 April 2001
Sponsor
ABN-AMRO Securities (South Africa) (Pty) Ltd.
Registration number 1995/001231/07
Member of the JSE Securities Exchange South Africa
Attorneys
Fluxman Rabinowitz - Raphaely Weiner Attorneys
Corporate adviser
Incentive Holdings Limited
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