The Afrikander Lease Limited - Company Announcement
The Afrikander Lease Limited
(Incorporated in the Republic of South Africa)
AFL (JSE) AFKDY (NASDAQ)
(Registration number 1921/006955/06)
("Aflease")
(ISIN Number : ZAE000000253
Share Code : AFL)
COMPANY ANNOUNCEMENT
Aflease owns significant uranium deposits in the Klerksdorp area in the form of
the Dominion Reefs and Rietkuil resources. These resources were previously mined
by the Anglo American Corporation of South Africa. The Dominion Mine produced 1
143 tons of Uranium Oxide at a grade of 0,94 kg/ton between 1955 and 1961. The
Rietkuil Mine produced 16,2 tons of Uranim Oxide at a grade of 0,44 kg/t during
1988. The mining of these deposits was terminated because of a decline in the
uranium price at the time.
Aflease shareholders are advised that in light of the recent improvement in the
uranium price Aflease has decided to perform certain preliminary work for the
purpose of which will be to assess the merits of developing the company"s
uranium assets.
The preliminary work is expected to continue for some months. Aflease
shareholders will be advised of any material progress in this regard.
Johannesburg
7 January 2004
Sponsor
Nedbank Corporate
Date: 07/01/2004 05:30:02 PM Supplied by www.sharenet.co.za
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