Company Announcements ASX Limited Exchange Plaza 2 The Esplanade PERTH WA 6000
By Electronic Lodgement
6 November 2012
‘STAND-ALONE’ PGM & CHROME MINING COMPANY AND SHARE ISSUE APPROVED
HIGHLIGHTS
? Chrometco approves transaction to establish a ‘stand-alone’ PGM and chrome mining company with Realm and Nkwe
? Realm to receive 10 million Chrometco shares as payment for Stage 1
? Richard Rossiter appointed non-executive director of Chrometco
? Realm to hold 16% stake in Chrometco following completion of transaction
Realm Resources Ltd (“Realm” - ASX: RRP) is pleased to announce the advancement of a deal that will position Realm as a major shareholder in a ‘stand-alone’ company focussed on advancing platinum group metals (“PGM”) and chrome assets in South Africa.
As signalled to the ASX on 13 August 2012, Realm entered into an agreement (the ‘Agreement’) with Chrometco Limited (“Chrometco” – JSE: CMO) and Nkwe Platinum Rooderand (Proprietary) Limited (”Nkwe”) to vend the Rooderand PGM assets into Chrometco in exchange for shares in Chrometco.
Following Chrometco’s General Meeting held on 2 November 2012, Chrometco shareholders approved the agreement.
Commenting on the deal, Realm’s Chairman Richard Rossiter said, “Completion of this first stage of the transaction is a significant step towards unlocking the value in Realm’s PGM assets. The Agreement provides obvious synergies and will enable Realm to receive value through its stake in a company solely devoted to developing South African PGM and chrome assets”.
Nkwe and Realm (the “Sellers”) have agreed to cancel the existing farm-in agreement and sell to Chrometco the platinum group and base metal mineral rights (the “Prospecting Right”) as well as
- Forums
- ASX - By Stock
- NKP
- ann coming???
ann coming???, page-2
-
- There are more pages in this discussion • 57 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NKP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online