CMO
CMO
CMO - Chrometco Limited - Project update
CHROMETCO LIMITED
(Previously "Sweet Equity Investments (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
(JSE Code: CMO & ISIN: ZAE000070249)
("Chrometco" or "the Company")
PROJECT UPDATE
With reference to the cautionary announcement published on 30 November 2006 and
the renewal thereof dated 12 January 2007.
River Group is authorised to announce that Chrometco has entered into a Joint
Venture with CENTRE PROFESSIONNEL DE DEVELOPPMENT ("Ceprodev"), of the
Democratic Republic of Congo ("DRC"), subject to SARB approval.
The JV will initially include the development of the following projects:
The marketing of Gold Production on behalf of artisanal miners currently mining
and producing approximately 300kgs of gold per month in the district of Kalemie
in the DRC and the subsequent pre-feasibility study on the development of a
mechanised gold mining project to assist the artisanal miners at Kalemie; and
The construction of a concentrator to up-grade ore currently being mined on the
Kawama copper cobalt ore reserve by the artisanal miners near Lubumbashi in the
DRC.
Chrometco is also in discussions, which are at an advanced stage, with
prospective partners to erect a chrome washing plant to produce chrome
concentrates on its ore reserve on Portion 2 of the Farm Rooderand in the North
West Province.
Pretoria
20 February 2007
Designated Advisor
River Group
Date: 19/02/2007 15:27:02 Produced by the JSE SENS Department.
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