SAL
SAL
SAL - Sallies Completes Buffalo Acquisition
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1903/001879/06
JSE Share Code: SAL
ISIN: ZAE000022588
("Sallies")
SALLIES COMPLETES BUFFALO ACQUISITION
Johannesburg, 22 January 2007 - Fluorspar producer Sallies has paid the final
R5 million tranche of the R65 million purchase price for Buffalo Fluorspar, the
company announced today. Sallies took over the Buffalo operation at the
beginning of August last year.
Chief executive Izak Marais said production from the Buffalo tailings
retreatment operation in the Limpopo province was now consistently running at
the forecast 100 tonnes of Fluorspar per day, and all of the expected production
for 2007 has been sold. Sallies` other operation is the Witkop mine in the
Northwest province.
"Conditions in the global fluorspar market remain buoyant and the incorporation
of Buffalo has enabled us to increase our supply of product significantly at a
time when demand is strong and price levels are relatively good," he said.
Marais also said that a hydro-mining pilot project had been commissioned at
Buffalo`s high-grade Mill Hill pit. If successful, it could have a positive
impact on Buffalo`s cost profile, and pave the way for increased output.
For further information call Izak Marais on (018) 642 8401 or 083 298 2000
Issued by du Plessis Associates on behalf of Sallies Limited.
dPA contact Helen McKane on Tel : +27 11 728 4701,
Fax: +27 11 728 2547, Cell: +27(0)82 330 2034 or e-mail: sallies@dpapr.com
Date: 22/01/2007 10:00:01 Produced by the JSE SENS Department.
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