WEZ
WEZ
Wesizwe Platinum Limited - Fundraising Announcement - Private placing for R65m
Wesizwe Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/020161/06)
JSE code: WEZ ISIN: ZAE000075859
(the "Company" or "Wesizwe")
Fundraising Announcement - Private placing for R65m
Successfully placed 31 422 493 ordinary shares, equating to 8,8% of the
Company"s issued share capital
Shares issued under the general authority with nine institutions
Funds raised will be used for further exploration drilling and evaluation of the
Pilanesberg project
Mike Solomon, CEO, comments: "We are delighted with the response we have had to
the South African fundraising. The local subscription has been beyond our
expectations. This reflects the extent of market confidence in Wesizwe
specifically, but also indicates increasing confidence in the exploration sector
on the part of South African institutions. The capital raising has added a vital
community of institutional shareholders to the register and this will serve to
boost liquidity and both retail and institutional interest in our stock"
"The fundraising provides us with the funds to continue our successful
exploration programme as we move the project towards Bankable Feasibility Study
and ultimately the construction of a mine. We remain on track to commission a
Bankable Feasibility during 2007."
Enquiries
Wesizwe Platinum +27 11 215 2375
Mike Solomon, CEO
Melanie Low, Corporate Affairs Manager
College Hill +27 11 447 3030
Nick Williams +27 83 607 0761
Fred Cornet +27 83 307 8286
www.wesizwe.com
Date: 06/09/2006 11:38:06 AM Produced by the JSE SENS Department
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