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RBPlat receives US$145 million Triple Flag Gold Stream Prepayment and settles RPM Deferred Consideration in full
ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2008/015696/06)
JSE share code: RBP
ISIN: ZAE000149936
Company code: RBPD
Bond code: RBPCB
ISIN: ZAE000243853
(“RBPlat” or “the Company”)
RBPLAT RECEIVES US$145 MILLION TRIPLE FLAG GOLD STREAM PREPAYMENT AND SETTLES RPM
DEFERRED CONSIDERATION IN FULL
Security holders are referred to the announcement released on SENS on 16 October 2019, in which
they were advised, inter alia, that the Company had entered into a gold streaming agreement through
its wholly-owned subsidiary, Royal Bafokeng Resources Proprietary Limited (“RBR”), with Triple Flag
Mining Finance Bermuda Limited (“Triple Flag”). In terms of the agreement, the Company would
receive an upfront cash prepayment of US$145 million (equating to approximately ZAR2.1 billion) in
exchange for the future delivery of gold from the RBPlat mining operations (excluding Styldrift II and
the Impala royalty areas), payable over the life of mine (the “Stream”).
The board of directors (“the Board”) is pleased to advise security holders that the parties have fulfilled
all the conditions to the transaction and that RBPlat has received the US$145 million prepayment.
Security holders are also referred to the announcements released on SENS on 5 July 2018 and
12 December 2018, in which they were advised, inter alia, that the Company, through RBR and
Rustenburg Platinum Mines Limited (“RPM”), a wholly-owned subsidiary of Anglo American Platinum
Limited, had agreed the terms of a transaction in terms of which RBR would acquire the balance of
the 33% interest in the Bafokeng Rasimone Platinum Mine Joint Venture (“BRPM JV”), from RPM (“the
Transaction”) for a purchase consideration of ZAR1.863 billion at the time.
The Board is pleased to advise security holders that the proceeds from the Stream have been applied
to fully settle the deferred consideration owing to RPM, including accrued interest, in the total amount
of ZAR1.851 billion.
About Triple Flag:
Triple Flag primarily targets precious metal streaming and royalty investments in the mining sector,
with backing by Elliott Management Corporation, an experienced global investment firm with more
than US$38 billion of assets under management. Triple Flag’s focus is on being a leading sought-after
long-term funding partner to mining companies throughout the commodity cycle. In the past three
years, Triple Flag has concluded 15 deals to build its portfolio of 38 streaming and royalty assets. In
doing so, Triple Flag has committed over US$1 billion to the mining sector, helping its partners build
new mines, acquire new assets, refinance their balance sheets and enhance their liquidity. For more
information, visit www.tripleflagmining.com.
Johannesburg
3 February 2020
Corporate advisor JSE sponsor
Questco (Pty) Ltd Merrill Lynch South Africa (Pty) Ltd
JSE debt sponsor
RMB (a division of FirstRand Bank Limited)
For further information, please contact:
Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4510
Email: lindiwe@bafokengplatinum.co.za
Date: 03-02-2020 11:00:00
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