|
ELD
ELD
Eland Platinum Holdings Limited - Excellent progress on new Eland Platinum Mines
Eland Platinum Holdings Limited
(formerly Nungu Trading 500 Limited)
(Incorporated in South Africa)
(Registration number 2005/029957/06)
(JSE code: ELD ISIN: ZAE000078655)
("Eland Platinum" or "the Company")
25 April 2006
"EXCELLENT PROGRESS" ON NEW ELAND PLATINUM MINE, SAYS MD
"Excellent progress" has been made to date on Eland Platinum Holdings Limited"s
Elandsfontein Mine Project and the mine is on schedule to start production
during the fourth quarter of 2007, Eland Platinum Managing Director David Salter
said today 25 April 2006.
Currently:
- 38 holes of the 57-hole in-fill drilling campaign, covering 13.5 kilometres
(km) of the planned 22 km, have been completed and drilling of a further nine
holes is in progress;
- geotechnical testing of the planned concentrator site is in progress;
- the concentrator flowsheet has been finalised and equipment sized, with
only minor confirmatory metallurgical testwork still being conducted at Mintek;
- enquiries for the major long-lead items of metallurgical equipment have
been issued;
- field work for the preparation of the Environmental Management Programme
Report (EMPR) has been completed; and
- negotiations for the supply of power and water are progressing.
Salter said the company has already lodged its application for a mining right
with the Department of Minerals and Energy.
"It is very pleasing that progress on the project has kept pace with the
aggressive schedule we set ourselves," Salter said. "We look forward to
reporting shortly on developments regarding our mining right application, our
revised reserve/resource model and on the start of preparatory work for
construction."
Salter said support for Eland Platinum from the local investing community post
its JSE listing, and a free float of more than 64%, were encouraging.
"Some 97% of the equity is held by South African institutional and retail
investors; some 30% by leading local institutions such as Coronation, Sanlam,
Old Mutual and Nedbank," he said.
Salter commended the contribution of consulting groups working on the project,
maintaining the desired quality of work, safely and on time.
Website: www.elandplats.com
Queries:
James Duncan
Russell & Associates
Tel: +27 11 880 3924
Fax: +27 11 880 3788
Mobile: +27 82 892 8052
E-mail: james@rair.co.za
DISCLAIMER
All statements in this media release, other than historical facts, that address
exploration activities and mining potential are forward-looking statements.
Although Eland Platinum believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements should
not in any way be construed as guarantees of future performance. Factors that
could cause developments to differ materially from those expressed include
exploration results, technical analysis and the lack of availability to the
company of necessary capital to progress its project(s) further. The company is
subject to the specific risks inherent in the exploration and mining business
and general economic and business conditions.
Date: 25/04/2006 10:09:32 AM 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
