Wrap Text
Extension of date
Forbes & Manhattan Coal Corp.
(Registration number: 002116278)
(External company registration number: 2011/011661/10)
Share code on the Toronto Stock Exchange: FMC
Share code on the JSE Limited: FMC
ISIN: CA3451171050
(“Forbes Coal” or “the Company”)
FORBES COAL EXTENDS CLOSING DATE FOR EXTENSION OF
OPENCAST
TORONTO, ONTARIO – April 29, 2014: Forbes & Manhattan Coal Corp. (TSX: FMC) (JSE:
FMC) (“Forbes Coal” or the “Company”) has extended the closing date for the acquisition of a
portion of Ikwezi Mining Proprietary Limited’s (“Ikwezi”) mining right over the property known as
Alleen No. 2, as announced on January 20, 2014, to June 30, 2014. The mining right is located
north of Dundee in the Kwa-Zulu Natal province in South Africa, adjacent to Forbes Coal’s
current Magdalena opencast operations.
The parties are awaiting written consent from the Minister of Mineral Resources in terms of
section 102 of the Mineral and Petroleum Resources Development Act in order to implement the
acquisition.
About Forbes Coal
Forbes Coal is a coal producer in southern Africa. It holds a majority interest in two operating
mines through its 100% interest in Forbes Coal (Pty) Ltd., a South African company which has a
70% interest in Zinoju Coal (Pty) Ltd. (“Zinoju”). Zinoju holds a 100% interest in the Magdalena
bituminous mine and the Aviemore anthracite mine in South Africa. Forbes Coal has an
experienced coal-focused management team.
Cautionary Notes:
This press release contains “forward-looking information” within the meaning of applicable
Canadian securities legislation. Forward-looking information includes, but is not limited to,
statements with respect to the acquisition of the mining right over Alleen No. 2, future payments
due to Ikwezi, the extension of the closing date for the acquisition of Alleen No. 2 and to the
future financial or operating performance of Forbes Coal and its projects. Generally, forward-
looking information can be identified by the use of forward-looking terminology such as “plans”,
“expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and
phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of Forbes Coal to be materially different from those expressed or
implied by such forward-looking information, including but not limited to: general business,
economic, competitive, foreign operations, political and social uncertainties; a history of
operating losses; delay or failure to receive board or regulatory approvals; timing and availability
of external financing on acceptable terms; not realizing on the potential benefits of the proposed
transaction; conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral products; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and,
delays in obtaining governmental approvals or required financing or in the completion of
activities. Although Forbes Coal has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Craig Wiggill Sarah Williams
Chairman and Chief Executive Officer Chief Financial Officer
Email: crwiggill@gmail.com Email : swilliams@forbescoal.com
30 April 2014
Johannesburg
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
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