MML - Metmar - IDC cash injection for Kalahari Res
MML
MML
MML - Metmar - IDC cash injection for Kalahari Resources
Metmar Limited
(Formerly Heritage Collection Holdings Limited)
Incorporated in the Republic of South Africa
Registration Number 1998/007269/06
Share Code: MML
ISIN Code: ZAE000078747
("Metmar" or "the Company")
The Industrial Development Corporation (ICD) has announced an investment of R60
million in Kalahari Resources, the manganese mining project which is 10%-owned
by JSE-listed commodities trading company, Metmar Limited. Kalahari Resources
was granted a prospecting licence in 2005, and has commenced exploration of
these manganese interests. The IDC`s investment will contribute to feasibility
studies for the mining, beneficiating and smelting of the ore body at a proposed
manganese mine and sinter plant in Kuruman in the Eastern Cape with a projected
annual output of 1.5 million tons.
Apart from the potential marketing of Kalahari Resources` production, the
investment also has the potential to unlock significant shareholder value for
Metmar in the longer term.
7 February 2007
Bryanston
Sponsor: BDO Questco (Pty) Ltd
Date: 07/02/2007 16:28:35 Produced by the JSE SENS Department.
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