Chrometco Limited - Drill Results And Cautionary A
CMO
CMO
Chrometco Limited - Drill Results And Cautionary Announcement
Chrometco Limited
(Formerly Sweet Equity Investments (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2002/026265/06)
Share code: CMO & ISIN: ZAE000070249
("Chrometco" or "the company")
DRILL RESULTS AND CAUTIONARY ANNOUNCEMENT
The board is pleased to announce that, Chrometco has completed its scoping
drilling program on the farm Naboom 451KS and the farm Vaalboschlaagte 454KS.
The results of this exercise are extremely positive.
Estimated inferred tonnage of the primary minable seams (LG6 and MG2) total in
excess of 18 million tons after having allowed for mining and geological losses.
Other exploitable seams have also been intersected and these together with the
aforementioned would bring the total estimated tonnage beyond 30 million tons of
minable chromite ore.
The full report by the independent geologist is available for inspection at the
company"s offices or alternatively on the company"s website at
www.chrometco.co.za
Negotiations are in progress with a Development/Off-take Partner and Chrometco
can now proceed in undertaking a Bankable Feasibility Study.
Shareholders are advised that the company has entered into negotiations, which
if successfully concluded may have a material effect on the price of the
company"s securities. Accordingly, shareholders are advised to exercise caution
when dealing in Chrometco"s securities until a full announcement is made.
Warning: The listing of ordinary shares in the company is on the AltX.
Shareholders are advised of the risks of investing in a company listed on the
AltX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the AltX. In terms of the JSE Listings
Requirements a Designated Advisor has to be retained by the company. The
Designated Advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE Listings Requirements and applicable
regulations are complied with, approve the financial director of the company and
guide the company in a competent, professional and impartial manner. If the
company fails to retain a Designated Advisor it must make arrangement to appoint
a new Designated Advisor within 10 business days, failing which the company
faces suspension of trading of its securities. If a Designated Advisor is not
appointed within 30 days of its suspension the company faces the termination of
its listing without an offer to minority shareholders.
Pretoria
4 April 2006
Designated Advisor
River Group
Date: 04/04/2006 11:04:04 AM Produced by the JSE SENS Department
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