Aquarius Platinum Sale of Everest Mine - Update
April 23 2015 - 2:00AM
UK Regulatory
TIDMAQP
AQUARIUS PLATINUM LIMITED
ASX, LSE & JSE
23 April 2015
Sale of Everest Mine - update
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).
Aquarius is pleased to advise that the conditions precedent in respect of the
Part A disposal process were fulfilled on 22 April 2015. Part A of the disposal
process is now unconditional and the consideration of R400 million is due and
payable by Northam on 26 June 2015.
Part B of the disposal process is subject to the consent of the Minister of
Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources
Development Act. The section 11 application has been submitted to the
Department of Mineral Resources.
Should the Ministerial Consent not be obtained the first part of the Disposal
will not be unwound.
For further information please contact:
In South Africa:
Jean Nel
Aquarius Platinum (South Africa) (Pty)
Ltd+27 (0) +27 (0) 10 001 2848
In Australia:
Willi Boehm
Aquarius Platinum Corporate Services
Pty Ltd
+61 (0) 8 9367 5211
or visit: www.aquariusplatinum.com
REGISTERED OFFICE
Aquarius Platinum Limited ? Clarendon House ? 2 Church Street ? Hamilton HMCX
Bermuda
Email: info@aquariusplatinum.com
Telephone: +61 8 9367 5211
END
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