Messina - Illegal industrial action at Messina Platinum
MESSINA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1950/035912/06)
Share Code: MES
ISIN: ZAE000004438
(`Messina`)
The following is an extract from a news release issued by Southern Platinum
Corp, Messina`s holding company, in Toronto on 14 February 2005.
`February 14, 2005
Shares Issued and Outstanding 85,375,124
TSX: SPC
ILLEGAL INDUSTRIAL ACTION AT MESSINA PLATINUM
138 Rock Drill Operators Dismissed
Toronto, Ontario - Southern Platinum Corp. (TSX: SPC) (`the Company`) today
announced that the Company`s 91.5 percent subsidiary Messina Platinum has been
facing limited illegal industrial action in the form of a go-slow strike on the
part of a limited number of employees, mostly rock drill operators. This illegal
action, which appears to be part of a regional disruption affecting a
neighbouring mine as well, has been condemned by Messina`s three representative
unions.
Last Friday, 138 rock drill operators engaged in an illegal strike, downing
tools and demanding higher wages. This illegal action resulted in their
dismissal over the weekend.
In an effort to minimize the impact of this illegal action on Messina`s
production, mine management is redeploying rock drill operators from the older
and less productive down-dip stopes on the eastern side of the mine to the newer
and more productive long-hole stopes on the western side of the mine. It is
expected that replacement rock drill operators will also be hired.
Southern Platinum is an independent producer, developer and explorer of platinum
group metals.
The Company now controls the following platinum assets:
- 91.5 percent of Johannesburg-listed Messina Platinum;
- 50 percent of the Dwaalkop Joint Venture;
- 85 percent of the Millennium Platinum Project in South Africa;
- 100 percent of the Paradise Platinum Project in South Africa; and
- 95 percent of the Monts de Cristal Platinum Project in Gabon.
The common shares are traded on the Toronto Stock Exchange (TSX: SPC).
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FOR FURTHER INFORMATION PLEASE CONTACT:
Southern Platinum Corp.
Mr. Patrick Evans, President and CEO
Telephone: (416) 359-7800
Fax: (416) 359-7801
E-mail: inbox@southplats.com
www.southplats.com
NOTE: Certain statements contained herein are `forward-looking` and are based on
the opinions and estimates of management, or on the opinions and estimates
provided to and accepted by management. These opinions and estimates include
those that relate to all the geological, development, mining and commodity price
and market parameters used by management. Forward-looking statements are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ, possibly significantly. Readers are
therefore cautioned not to place undue reliance on any forward-looking
statement.`
Rosebank
15 February 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 15/02/2005 09:03:18 AM
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