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PALLINGHURST RESOURCES LIMITED - Tshipi Borwa loads first train with manganese

Release Date: 20/11/2012 14:08
Code(s): PGL     PDF:  
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Tshipi Borwa loads first train with manganese

PALLINGHURST RESOURCES LIMITED
(Incorporated in Guernsey)
(Guernsey registration Number: 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: PALLRES ISIN: GG00B27Y8Z93
Share code on the JSE: PGL
("Pallinghurst" or the "Company")



Tshipi Borwa loads first train with manganese

Shareholders are advised that Tshipi é Ntle Manganese Mining (Pty) Ltd (“Tshipi”)’s the first trainload of
manganese ore at Tshipi Borwa was loaded on Sunday, 18 November 2012. This is a significant milestone for
Tshipi Borwa.

The first ore at Tshipi Borwa was mined on 10 October 2012 after progressing with the 70 metres prestrip. The
first train comprising 104 wagons loaded with 6,430 tonnes of manganese ore is currently being railed to Port
Elizabeth by Transnet where it will be stockpiled pending a 40,000 tonne initial shipment. It is envisaged that
the first shipment of approximately 40,000 tonnes will be dispatched from Port Elizabeth in late December or
early January 2013.

Tshipi is 49.9% owned by Jupiter Mines Limited, in which the Company has an equity interest of 16.66%.

Brian Gilbertson, the Chairman of both Pallinghurst and Jupiter, commented:

“After approximately ten months of prestrip to access the manganese ore, the Tshipi Borwa Mine has
successfully reached another significant milestone. The project remains on time and on budget, and Jupiter
with AUD100 million cash in the bank is well funded to meet any remaining Tshipi commitments.”


Guernsey
20 November 2012

Sponsor
Investec Bank Limited

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