To view the PDF file, sign up for a MySharenet subscription.

ATLATSA RESOURCES CORPORATION - Atlatsa and Anglo Platinum conclude first phase of restructure plan

Release Date: 02/10/2012 15:00
Code(s): ATL     PDF:  
Wrap Text
Atlatsa and Anglo Platinum conclude first phase of restructure plan


Atlatsa Resources Corporation 
(previously Anooraq Resources Corporation)
(Incorporated in British Columbia, Canada) 
(Registration number 10022-2033) 
TSXV/JSE share code: ATL 
NYSE AMEX share code: ATL
ISIN: CA0494771029
(”Atlatsa” or the “Company”)

ATLATSA AND ANGLO PLATINUM CONCLUDE FIRST PHASE OF RESTRUCTURE PLAN




Atlatsa Resources Corporation refers shareholders to the Company’s news release dated September 27, 2012 and announces that the
transactions pursuant to the interim implementation agreement (the “first phase agreement”) with Anglo American
Platinum Limited have been closed and implemented.


This series of transactions comprises the first phase of the Company’s restructuring, recapitalization and
refinancing plan (the “Restructure Plan”), its wholly owned subsidiary, Plateau Resources Pty Ltd, as well as the
Bokoni group of companies.


The second phase of the Restructure Plan remains subject to finalization of definitive agreements with respect to
such transactions, as well as obtaining the necessary shareholder and regulatory approvals, including from the
Department of Mineral Resources, South Africa, applicable stock exchanges and other regulatory bodies.


Shareholders are reminded that the Company remains under cautionary until the definitive agreements relating to
the second phase of the Restructure Plan have been executed and its financial effects have been finalized. The
financial effects of the first phase agreement are being finalized and will be announced in due course.


For further information regarding the first phase agreement, which constitutes a “related party transaction” for
purposes of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions,
shareholders are referred to the material change report dated September 27, 2012 and available on SEDAR at
www.sedar.com.

Johannesburg
2 October 2012

JSE Sponsor
Macquarie First South Capital (Pty) Limited



For further information:

On behalf of Atlatsa Resources                                   Russell and Associates                 Macquarie First South Capital

Joel Kesler, Chief Commercial Officer                            Charmane Russell                       Annerie Britz / Yvette Labuschagne

Office: +27 11 779 6800                                          Office: +27 11 880 3924                Office: +27 11 583 2000

Mobile: +27 82 454 5556                                          Mobile: +27 82 3725816


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. The NYSE MKT LLC has neither approved nor disapproved the contents of this press release.
Cautionary and forward-looking information

This news release contains “forward-looking statements” that are based on management’s expectations,
estimates and projections as of the current date, including statements relating to the Bokoni group Restructure
Plan and anticipated financial or operational performance. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as “may”, “will”, “outlook”, “anticipate”, “project”, “target”,
“believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.


Atlatsa believes that such forward-looking statements are based on material factors and reasonable assumptions,
including the following assumptions: the second phase of the Restructure Plan will be implemented on the terms
favourable to the Company and on a timely basis, Bokoni Mine will achieve targeted production levels; the
Company’s exploration project results will continue to be positive; contracted parties provide goods and/or
services on the agreed timeframes; equipment necessary for construction and development is available as
scheduled and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant
and equipment functions as specified; geological or financial parameters do not necessitate future mine plan
changes; and no geological or technical problems occur.


Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may
cause the Company’s actual results, level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking statements. These include but are not limited to:
- uncertainties related to the completion of the second phase of the Bokoni group Restructure Plan on a
timely basis, if at all;
- uncertainties and costs related to the Company’s exploration and development activities, such as those
associated with determining whether mineral resources or reserves exist on a property;
- uncertainties related to feasibility studies that provide estimates of expected or anticipated costs,
expenditures and economic returns from a mining project;
- uncertainties related to expected production rates, timing of production and the cash and total costs of
production and milling;
- uncertainties related to the ability to obtain necessary approvals, licenses, permits, electricity, surface
rights and title for projects;
- operating and technical difficulties in connection with mining development activities;
- uncertainties related to the accuracy of our mineral reserve and mineral resource estimates and our
estimates of future production and future cash and total costs of production, and the geotechnical or
hydrogeological nature of ore deposits, and diminishing quantities or grades of mineral reserves;
- uncertainties related to unexpected judicial or regulatory proceedings;
- changes in, and the effects of, the laws, regulations and government policies affecting our mining
operations, particularly laws, regulations and policies relating to:
  - mine expansions, environmental protection and associated compliance costs arising from
    exploration, mine development, mine operations and mine closures;
  - expected effective future tax rates in jurisdictions in which our operations are located;
  - the protection of the health and safety of mine workers; and
  - mineral rights ownership in countries where our mineral deposits are located, including the effect
  - of the Mineral and Petroleum Resources Development Act (South Africa);
- changes in general economic conditions, the financial markets and in the demand and market price for
gold, copper and other minerals and commodities, such as diesel fuel, coal, petroleum coke, steel, concrete,
electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with
respect to the value of the U.S. dollar, Canadian dollar and South African rand;
- unusual or unexpected formation, cave-ins, flooding, pressures, and precious metals losses (and the risk
of inadequate insurance or inability to obtain insurance to cover these risks);
- changes in accounting policies and methods we use to report our financial condition, including
uncertainties associated with critical accounting assumptions and estimates; environmental issues and liabilities
associated with mining including processing and stock piling ore;
- geopolitical uncertainty and political and economic instability in countries which we operate; and
- labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in
markets in which we operate mines, or environmental hazards, industrial accidents or other events or
occurrences, including third party interference that interrupt the production of minerals in our mines.


For further information on Atlatsa, investors should review the Company’s Annual Report disclosed in the Form
20-F for the year ended December 31, 2011 filed on SEDAR at www.sedar.com and with the United States
Securities and Exchange Commission www.sec.gov and other disclosure documents that are available on
SEDAR at www.sedar.com.

Date: 02/10/2012 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story