Technology & Operations Update
June 11 2009 - 2:00AM
UK Regulatory
TIDMBRR
RNS Number : 7188T
Braemore Resources PLC
11 June 2009
11 June 2009
Braemore Resources Plc
("Braemore" or "the Company")
Technology & Operations Update
As stated in the Operations Update released on 19 May 2009 Braemore Resources
Plc (AIM: BRR, JSE: BRE) has commenced with the restructuring of its 3.2MW
demonstration smelting facility at Mintek to further reduce operating costs of
the demonstration smelter.
In addition, the Company is in discussions regarding funding to construct and
commission the hydrometallurgical refining process, designed to significantly
uplift the value of the PGM product. This is achieved by separating the PGM's
from the base metals such as Nickel, Copper, Cobalt and Iron, and therein
producing a high value PGM concentrate for direct processing at PGM refineries.
The furnace has successfully demonstrated the technology offering to the
Platinum industry and has allowed Braemore to progress with the development of
the hydrometallurgical refining process. The refining process is key to ensuring
the commercial viability of the demonstration facility within the current market
environment of a strong South African rand and suppressed metal prices.
The 3.2MW demonstration furnace operation will remain temporarily halted during
this period while we restructure the operation and focus on the construction of
the refinery process. The reduced furnace throughput during this period is
expected to be offset by the Company's ability to provide an extended process
offering by both smelting and refining of Platinum Group Metal (PGM)
concentrates.
Leon Coetzer, Chief Executive Officer, commented, "Having demonstrated the
success of the furnace technology, our focus now turns to the installation of
the hydrometallurgical refining plant. This broadened capability will enable
Braemore to deliver a complete process offering to the PGM sector and is a key
part of the commercialisation of the Company's proven technology."
Enquiries:
+----------------------------------------------+-------------------------+
| Braemore Resources Plc | |
+----------------------------------------------+-------------------------+
| Leon Coetzer, Chief Executive Officer | +27 11 557 6413 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| WH Ireland: (Nomad and Joint Broker) | |
+----------------------------------------------+-------------------------+
| James Joyce | +44 207 220 1666 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Mirabaud Securities: (Joint Broker) | |
+----------------------------------------------+-------------------------+
| Rory Scott | +44 207 878 3360 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Qinisele Resources: (RSA Corporate Advisers) | |
| | |
+----------------------------------------------+-------------------------+
| Dennis Tucker | +27 82 492 4957 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Russell and Associates: (RSA Public | |
| Relations) | |
+----------------------------------------------+-------------------------+
| Nicola Taylor/Charmane Russell | +27 11 880 3924 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Walbrook PR: (UK Public Relations) | |
+----------------------------------------------+-------------------------+
| Louise Goodeve/Leah Kramer | +44 207 933 8780 |
+----------------------------------------------+-------------------------+
| | |
+----------------------------------------------+-------------------------+
| Sasfin: (RSA Corporate Sponsor) | |
+----------------------------------------------+-------------------------+
| Sharon Owens | +27 11 809 7762 |
+----------------------------------------------+-------------------------+
Notes to Editors:
Braemore Resources offers investors an attractive opportunity to enter into the
PGMs and nickel business, initially through the mid-stream processing of these
metals and, in time, through mine-to-market production opportunities.
Braemore Resources is principally involved in evaluating, establishing and
operating independent facilities for the roasting, smelting and refining of
concentrates containing PGM and associated base metals and for the reclamation
and processing of sulphide nickel tailings. Diversified both geographically and
in terms of product, the company is located in two key mining regions - Braemore
Nickel in Western Australia and Braemore Platinum in South Africa. Braemore's
access to proprietary technology, and in particular the Mintek ConRoast
technology, which has successfully operated at test plant level, makes the
company well-positioned to become a significant player in the burgeoning South
African PGMs sector, offering a more cost-effective, environmentally friendly
and accessible smelting option to many junior mining companies. Unlike
conventional smelters, ConRoast is unaffected by the high-chrome content ores,
which are increasingly being mined.
Braemore's management team, in South Africa and Australia, bring with them
impressive credentials in their respective sectors, combined with a Board that
has experience in metals processing, financial and commodities markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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