Chrometco Limited - Joint Venture On Nickel Projec
CMO
CMO
Chrometco Limited - Joint Venture On Nickel Project And Further Cautionary
Announcement
CHROMETCO LIMITED
(previously known as "Sweet Equity Investments (Pty) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
(JSE Code: CMO ISIN: ZAE000070249)
("Chrometco" or "the company")
JOINT VENTURE ON NICKEL PROJECT AND FURTHER CAUTIONARY ANNOUNCEMENT
Rivergroup is authorised to announce that Chrometco has signed a Memorandum of
Understanding with an Empowerment Minerals Holding Company, Amber Mountain
Investments 11 (Pty) Ltd, whereby the parties, by way of a Joint Venture, will
undertake a feasibility study on the Nickel ore deposit situated on the farm
Blaauwbank 515 KQ, Limpopo Province.
A shaft was sunk during the period 1974 - 197, directly into the nickel ore body
on the farm Blaauwbank. The directors envisage a short drilling program to
define the parameters of the reserve, following this, a feasibility study will
be undertaken. This exercise should be completed within the following 9 months.
Amber Mountain is awaiting the issuing of the prospecting permit which should be
issued within the next 3 weeks.
Further to the cautionary announcement dated 4 April 2006, 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.
Pretoria
5 April 2006
Corporate and Designated Advisor
River Group
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.
Date: 05/04/2006 10:16:16 AM Produced by the JSE SENS Department
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