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Article from Mining Weekly.com

Nkwe granted platinum rights, ASX suspension lifted
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By: Esmarie Swanepoel
16th February 2012
Updated 27 minutes ago
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PERTH (miningweekly.com) – Share trading in Nkwe Platinum resumed on the ASX on Thursday, as South Africa granted the company mining rights over three of its five farms, including those making up its Garatau platinum project.

The platinum junior announced on Thursday that the Department of Mineral Resources had granted mining rights over the Garatau, De Kom and Hoepakrantz farms, confirming the company’s legal tenure over these farms.

With the mining rights now issued, Nkwe and its shareholder Genorah Resources could finalise various joint venture (JV) and funding opportunities for the Garatau project, while the optimised bankable feasibility study was scheduled for completion in May this year.

Trading in Nkwe’s shares has been suspended since November 9, pending an announcement regarding the outcome of joint venture negotiations.

“The board and management believe it is about to embark on an exciting and profitable era in the migration of the company from being an aggressive exploration company to an equally competent miner and producer,” said MD Maredi Mphahlele.

The Garatau project would deliver some 400 000 oz/y of platinum group metals over a 40-year life of mine, at an estimated capital cost of between R6.5-billion and R8.3-billion.

The mining, environmental, social and labour plans for the project have already been approved.

Meanwhile, Mphahlele also reported that Nkwe would look to augment its management to add experienced and qualified personnel to all areas of operational management.

It was thought that that the change in management would reflect Nkwe’s evolution to a producer, while giving Genorah the opportunity to focus more on local community involvement.