Lonmin Plc And Goldstream Mining N.l. - Mibango Jo
Lonmin Plc and Goldstream Mining N.L. - Mibango Joint Venture
Lonmin Plc
GB0031192486
21 August 2002
Lonmin Plc is pleased to announce that it has entered into a joint venture
agreement with Goldstream Mining N.L. (Goldstream), a company incorporated in
Australia with shares listed on the Australian Stock Exchange (ASX: GDM). The
Mibango Joint Venture (MJV) will advance Goldstream`s prospective Mibango PGM
exploration project in Western Tanzania in which Goldstream holds a 100%
beneficial interest.
The main points covered by the Mibango Joint Venture Agreement are that Lonmin
will:
be entitled to a 60% interest in the MJV by funding an initial minimum of US $1
million in exploration in the first year (ending 31st March 2003)
refund to Goldstream previous expenditure of US $610,000
provide sole funding to complete a Feasibility Study within five years
have the opportunity to earn a further 5% interest in the MJV by arranging
development finance
provide technical services to the MJV and have the right to purchase products
from Goldstream`s share of the joint venture
For further information please contact: Ian Farmer or Chris Davies (+44 207 201
6000), or Albert Jamieson(+27 11 516 1300) at Lonmin, or Jackie Range at
Cardew&Co. (+44 207 930 0777).
Reference may also be made to the website www.goldstreammining.com.au
Date: 21/08/2002 09:03:49 AM Produced by the JSE SENS Department
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