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ELD
ELD
Eland Platinum - Signs project finance mandate with Nedbank Capital;
Appoints Rothschild as Independent Adviser
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")
ELAND PLATINUM SIGNS PROJECT FINANCE MANDATE WITH NEDBANK CAPITAL; APPOINTS
ROTHSCHILD AS INDEPENDENT ADVISER
Eland Platinum announced today (03.08.06) that it has mandated Nedbank Capital,
a division of Nedbank Limited, to arrange the full project finance facility
required for the development of the Elandsfontein Platinum Mine and that Nedbank
Capital has committed to achieve financial close by 31 December 2006.
Nedbank Capital has a strong track record of innovative mining finance
transactions and has worked closely with Eland Platinum since its formation.
Eland Platinum has also retained NM Rothschild & Sons (Rothschild) to act as its
independent financial adviser with regard to the project"s financing
arrangements. Rothschild is one of the world"s leading investment banks and has
a long-standing global reputation for providing robust, objective relationship-
based advice, especially in the mining sector.
Eland Platinum Managing Director David Salter said that Nedbank Capital had won
the project financing in a highly competitive bidding environment by providing
the most innovative, rapid and cost-effective structure to match the rigorous
demands of Eland Platinum"s mine development schedule.
"Nedbank Capital has again demonstrated its commitment to our project and our
company with an innovative, risk-sharing structure. We are pleased to continue
our successful association with Nedbank Capital and, in conjunction with
Rothschild, look forward to closing the transaction before the end of the year.
"With the project financing at this stage, we remain on track to meet our fast
track development schedule and to be in production by the end of 2007."
Eland Platinum Finance Director Jonathan Clark commented: "The combination of
Rothschild as adviser and Nedbank Capital as financier is a powerful one, which
indicates the underlying strength of the Elandsfontein Platinum Project. We are
excited about concluding these arrangements and remaining on schedule with the
development of the mine."
Head of Nedbank Capital"s Mining and Resource Finance team Mark Tyler said:
"Nedbank Capital has a close association with the Eland Platinum team and we are
well aware of the company"s aggressive mine development schedule. We are very
pleased to have been selected to provide a financing solution to meet the
timelines."
Jennifer Feinberg, Director - Investment Banking and Head of Resources for
Rothschild in South Africa said: "The role of financial adviser on significant
resource financings is an area of strength for Rothschild, and we"re looking
forward to working together to achieve an optimal financing structure for Eland
Platinum."
Queries
Eland Platinum
James Duncan
Russell & Associates
+27 11 880 3924 (work)
+27 82 892 8052 (mobile)
Nedbank Capital
Mark Tyler
Nedbank Capital
+27 11 294 3424 (work)
+27 82 828 8993 (mobile)
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.
Johannesburg
03 August 2006
Investment bank and sponsor
Nedbank Capital
Date: 03/08/2006 04:41:06 PM Produced by the JSE SENS Department
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