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BAUBA PLATINUM LIMITED - Granting of 20-Year Mine Right

Release Date: 27/06/2016 16:05
Code(s): BAU     PDF:  
Wrap Text
Granting of 20-Year Mine Right

Bauba Platinum Limited
Incorporated in the Republic of South Africa
(Registration number 1986/004649/06)
Share code: BAU ISIN: ZAE000145686
(“Bauba” or “the Company”)


GRANTING OF 20-YEAR MINE RIGHT


The board of directors of Bauba is pleased to announce that the Company has successfully secured a 20-
year Mine Right (“the Mine Right”) for chrome on the Farm Moeijelijk 412 KS from the Department of
Mineral Resources.

Chief Executive Officer of Bauba, Nick van der Hoven, commented: “I am very pleased to announce the
fulfilment of the legislative conditions for the continuation of mining operations, beyond that permitted under
the Small Scale Mining Permit received in November 2014, as this will enable the Company in the
foreseeable future to continue its pursuit of being both a cash generating chrome producer and an
exploration company.”

Bauba has, during the second quarter of 2016, also concluded discussions with certain parties regarding
the planning of underground chrome operations on Moeijelijk which are to be mined under the Mine Right
at an anticipated 30 000 metric tonnes of run of mine chrome ore per month. The development of the
underground mining operations may possibly commence either during the last quarter of 2016 or during the
first quarter of 2017, subject to the granting of a pending Water Use Licence Application and prevailing
market conditions. If and when so commenced with, the development of underground mining operations
will run parallel with the opencast operations, consequently rendering a significant increase in tonnages to
be mined monthly.

This announcement includes certain forward-looking statements and forward-looking information. All
statements other than statements of historical fact included in this announcement including, without
limitation, statements regarding future plans and objectives of Bauba, are forward-looking statements (or
forward-looking information) that involve various risks, assumptions and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual values, results and future events could
differ materially from those anticipated in such statements.

Any forward-looking information in this announcement speaks only at the time of issue and there can be no
assurance that such statement will prove to be accurate as actual values, results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Bauba does not undertake to update any forward-looking
statements that are included herein, or revise an changes in events, conditions or circumstances on which
any such statement is based, except in accordance with applicable securities laws and JSE Listings
Requirements.


Johannesburg
27 June 2016

Sponsor
Merchantec Capital

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