BPL - Barplats - Barplats` Crocodile River Mine Gr
BPL
BPL
BPL - Barplats - Barplats` Crocodile River Mine Granted New Order Mining Right
BARPLATS INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004830/06)
Share code: BPL
ISIN: ZAE000028692
("Barplats")
Barplats` Crocodile River Mine granted new order mining right
Barplats is pleased to announce that the Department of Minerals and Energy has
granted new order mining right to its operating property, Crocodile River Mine
(CRM) for the eastern boundary of the Maroelabult section, which was a new
application.
The award of this new order mining right will enable CRM to resume production on
the eastern boundary of Maroelabult, thereby enabling monthly throughput from
the Maroelabult section to increase to the original planned level of 40,000
tonnes a month over the next nine months. This level of production will be
sustainable for approximately eight years.
The underground conveyor system has been installed at Zandfontein and this has
resulted in a significant reduction in operating costs. Together with the
receipt of the new order mining right at Maroelabult this will enable CRM to
proceed with plans to achieve steady state production of 180,000 tonnes per
month.
CRM was granted 11 prospecting rights in 2006 which has enabled the company to
prospect the Crocette area and to begin infill drilling of the Kareespruit
section, an on-strike and down-dip extension of the UG2 reef at Maroelabult with
an Indicated Resource containing 0.37 M ozs PGM and an Inferred Resource
containing 2.44 M ozs PGM.
According to Ian Rozier, Chairman of Barplats, "The granting of the new order
right will enable management to continue to rapidly increase production at CRM.
The mine`s processing plant is already positioned for the build-up to full
production and we can now see our way clear to achieving this."
18 December 2006
Queries
Janet Whitaker
Russell & Associates
011 880 3924 (Office)
083 556 4324 (Mobile)
Date: 18/12/2006 15:17:04 Produced by the JSE SENS Department.
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