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Voluntary Announcement – Restart of Chrome Project
BAUBA PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004649/06)
Share code: BAU ISIN No: ZAE000145686
(“Bauba” or “Company”)
VOLUNTARY ANNOUNCEMENT – RESTART OF CHROME PROJECT
Bauba is pleased to announce that chrome mining has resumed at its Moeijelijk Mine. As announced
on SENS on 11 January 2016, the Moeijelijk Mine was placed under care and maintenance on this date
as a result of the adverse changes in the chrome-ore market, and more specifically to the drop in the
chrome-ore price from $175 per tonne to approximately $120 per tonne, thereby rendering the
Company’s chrome project financially unviable. The chrome-ore price has subsequently rebounded
from last year’s low of $80 per tonne, and is currently at approximately $380 per tonne.
The build up to the planned production of 20 000 tonnes of chrome-ore per month is expected to be
achieved within the following three months, with the expected chrome grade to be between 39% and
41%.
“From a difficult position in 2016, Bauba has, having wisely preserved its chrome-ore reserves for more
favourable prices, come into a stronger position and is well positioned to capitalise on these improved
prices” says Bauba’s chief executive officer, Nick van der Hoven.
Johannesburg
5 January 2016
Sponsor
Merchantec Capital
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