13 December 2006
2 October 2015
Sale of Everest Mine - Section 11 consent obtained: Part B becomes unconditional
Aquarius Platinum Limited (Aquarius) announced on 10 February 2015 that its subsidiary, Aquarius Platinum (South Africa ) (Pty) Ltd (AQPSA), had entered into an agreement to sell its entire interest in the Everest Mine and ancillary mining and processing infrastructure and immovable properties to Northam Platinum Limited (Northam), for an aggregate cash consideration of R450 million, to be completed in two parts, being R400 million for the concentrator and other mining assets of Everest Mine (Part A) plus R50 million for the Everest Mining Right (Part B). Part A of the disposal process was completed on 26 June 2015 following the receipt of R400 million.
Aquarius is pleased to announce that the parties have obtained consent in terms of section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002 to transfer the Everest Mining Right to Northam. The conditions precedent to the Part B Sale have therefore been fulfilled and the Part B Sale has become unconditional. The Part B Sale is expected to be implemented on or about 8 October 2015.
For further information please contact:
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In South Africa:
Jean Nel
Aquarius Platinum (South Africa) (Pty) Ltd
+27 (0) 10 001 2848
In Australia:
Willi Boehm
Aquarius Platinum Corporate Services Pty Ltd
+61 (0) 8 9367 5211
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or visit: www.aquariusplatinum.com
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