Mvelaphanda Resources Limited - Further Cautionary Announcement
Mvelaphanda Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1980/001395/06)
Share code: MVL ISIN: ZAE000050266
("Mvela Resources")
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 5 November 2003, shareholders are
advised that negotiations regarding the acquisition by Mvela Resources of a 50%
joint venture interest in a significant PGE resource on the eastern limb of the
Bushveld Igneous Complex ("BIC") and the consolidation of this resource with
Mvela Resources other platinum interests, in an empowerment vehicle controlled
by Mvela Resources, are still in progress.
The measured, indicated and inferred resource, commanded by the Joint Venture on
the UG2 horizon, which will be attributable to Mvela Resources, exceeds 35
million ounces (3PGE+AU). Mvela Resources also holds a 22.4% stake in Northam
Platinum Limited and a 50% joint venture interest with SouthernEra Resources
Limited in the Dwaalkop properties. The latter are situated on the western
extension of the eastern limb of the BIC and contain a measured, indicated and
inferred, attributable resource of 3.9 million ounces (3PGE+AU).
A further announcement will be made as soon as the current negotiations have
been concluded. In the meantime shareholders are advised to exercise caution
in their dealing in the securities of Mvela Resources.
The cautionary announcement dated 26 November 2003 regarding the acquisition of
15% of the South African mining assets of Gold Fields remains in force.
Johannesburg
17 December 2003
Sponsor to Mvela Resources
PricewaterhouseCoopers Corporate Finance
(Proprietary) Limited
Date: 17/12/2003 05:15:02 PM Supplied by www.sharenet.co.za
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