Miranda - Progress report on exploration programme
MMH
MMH
Miranda - Progress report on exploration programme and issue of permits
Miranda Mineral Holdings Limited
(previously Proper Group Limited)
(incorporated in the Republic of South Africa)
(Registration Number: 1998/001940/06)
Share code: MMH ISIN: ZAE000074019
("Miranda" or "the company" or "the group")
Progress report on exploration programme and issue of permits
1. Prospecting rights
The board of Miranda is pleased to inform shareholders that the following
application for a prospecting right in terms of Section 17 of the Mineral
and Petroleum Resources Development Act, 2002 (Act 28 of 2002) was
successful:
* Lowveld gold project - the group was granted the right to prospect for
gold ore on the farm Islington 219 KU (2,907 hectares) in the Letaba
District.
Management will now be calling for tenders for the diamond drilling,
logging, core sampling and chemical analysis required to construct a model
of the ore body in order to finalise the ore reserve estimate.
2. Environmental financial guarantee
Shareholders are advised that the guarantee for the following prospecting
permit and project has been lodged with the Department of Minerals and
Energy:
* North West Province diamond project - the guarantee covering the
rehabilitation for the group"s prospecting programme for diamonds on the
farms Turffontein 126 IQ (3,738 hectares) and Blaauwbank 125 IQ (3,430
hectares) in the Ventersdorp District.
Management foresees no problem with the approval and issue of the exploration
permits on these properties.
Centurion
14 February 2006
Sponsor:
Sasfin Capital
(A division of Sasfin Bank Limited)
Corporate Advisor:
Radagast Capital (Pty) Limited
Date: 14/02/2006 04:46:05 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
