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Sharenet Sites
Renewal of Cautionary Announcement
BAUBA PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/004649/06)
Share code: BAU ISIN: ZAE000145686
(“Bauba” or “the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 25 September 2013 and the subsequent renewal of
cautionary announcement dated 6 November 2013, shareholders are advised that negotiations have
advanced considerably and a non-binding term sheet has now been signed to enable the Company to
assess the potential of exploiting the previously excluded mineral rights on the farms Moeijelik 412 KS
and Waterkop 113 KT. The mineral rights have been assessed at a value of R250 million
(“Consideration”) and the Company has agreed to issue ordinary shares of no par value at a price of 65
cents per ordinary share for its 60 percent of the Consideration. The remaining 40 percent is owned by
the BaPedi nation through their shareholding in Bauba A Hlabirwa Mining Investments Proprietary
Limited, a subsidiary of the Company, in whose name the prospecting rights are held.
The mineral rights on the farm Moeijelik 412 KS has previously been geologically assessed through
exploration drilling and contains a known chrome resource. An application has been submitted to the
Department of Mineral Resources to extract a bulk sample of 100 000 tons of chrome ore for
metallurgical test work to assess quality and potential financial viability. Depending on these results,
application will be made for additional small-scale mining permits along the 'strike' of the resource area.
The necessary applications will then be made to extract chrome ore, using a contract mining company
that has experience in mining in the area over an extended period and an offtake agreement will be
entered into for the run-of-mine material.
Capital expenditure required to start mining is estimated at R2 million and the successful mining of this
chrome resource will result in short-term cash-flows that will be used to fund the continued Platinum
Group Metals (“PGM”) exploration programme that Bauba has advanced over the last few years.
Available funds will be used to commission ten additional exploration boreholes on the Northern Cluster
of properties that contain a total target PGM resource of 71.24 million ounces.
Final negotiations remain in progress which, if successfully concluded may have a material effect on the
price of the Company?s securities. Accordingly, shareholders are advised to continue exercising caution
when dealing in the Company's securities, until a further announcement is made.
Johannesburg
19 December 2013
Sponsor
Merchantec Capital
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