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Update on delay in filing of unaudited interim financial statements
Atlatsa Resources Corporation
(Incorporated in British Columbia, Canada)
(Registration number 10022-2033)
TSX/JSE share code: ATL
ISIN: CA0494771029
(“Atlatsa” or the “Company”)
UPDATE ON DELAY IN FILING OF UNAUDITED INTERIM FINANCIAL STATEMENTS
November 30, 2015 – Atlatsa Resources Corporation (“Atlatsa” or the “Company”) (TSX: ATL; JSE: ATL)
advised on November 16, 2015 that it is was not in a position to file its unaudited interim financial statements
for the three and nine months ended September 30, 2015, the related management’s discussion and analysis
(“MD&A”), and related Chief Executive Officer and Chief Financial Officer certificates (collectively, the “Q3
Financial Disclosure”).
As previously announced on August 14, 2015, Atlatsa has not been able to file its unaudited interim financial
statements for the three and six months ended June 30, 2015, the related MD&A and related Chief Executive
Officer and Chief Financial Officer certificates (collectively, with the Q3 Financial Disclosure, the “Financial
Disclosure”).
The delay in filing the Financial Disclosure is due to the uncertainties surrounding the Company’s financial
condition and the state of commodity markets.
A technical evaluation done in collaboration with our joint venture partner, Anglo American Platinum Limited
(“Anglo Platinum”), for the purposes of reviewing the Bokoni Mines Proprietary Limited (“Bokoni Mine”)
extraction strategy and developing a path towards a sustainable and optimised mine operation has been
concluded. Implementation of the operational and financial restructure plan (“Restructure Plan”) announced on
September 16, 2015 has commenced, with the consultation process on the contemplated retrenchments of
certain of Bokoni Mine employees taking place in compliance with Section 189A of the South African Labour
Relations Act, 66 of 1995.
Atlatsa continues to be in discussions with Anglo Platinum in relation to sourcing additional financial support
for the Company, having regard to the current bearish commodity price environment; results of the completed
technical evaluation; anticipated outcomes of the Restructure Plan at Bokoni Mine and Anglo Platinum’s
announced intent to divest from Bokoni Mine and Atlatsa.
As previously disclosed in Section 1.11 “Liquidity” of the MD&A of Financial Condition and Results of
Operations for the year ended December 31, 2014 and note 2 “Going Concern” of the Consolidated Financial
Statements for the year ended December 31, 2014 filed on SEDAR and EDGAR, significant doubt remains
regarding the Company’s ability to continue as a going concern. No assurances can be given that the issues
being faced by the Company will be resolved.
On August 17, 2015 the British Columbia Securities Commission, as principal regulator for the Company,
issued a management cease trade order under National Policy 12-203 – Cease Trade Orders for Continuous
Disclosure Defaults (“NP 12-203”) in respect of the late Financial Disclosure filings rather than an issuer cease
trade order. The issuance of a management cease trade order generally does not affect the ability of persons
who have not been directors, officers or insiders of the Company to trade in their securities.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-
203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default
of the filing requirements to file its Financial Disclosure within the prescribed time periods. The Company
confirms that, other than described herein, there has been no failures with respect to the Company fulfilling its
stated intention of satisfying the requirements of the alternative information guidelines and further confirms that
there is no other material information relating to the status of the default and its affairs that has not been
generally disclosed.
On behalf of Atlatsa
Prudence Lebina
Head of Investor Relations
Office: +27 11 779 6800
Email: PrudenceL@atlatsa.com
JSE Sponsor:
One Capital
Kathy Saunders / Taryn Carter
Office: +27 11 550 5000
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