This came out on the 15th September 2008 on Platmin Ltd website...

This came out on the 15th September 2008 on Platmin Ltd website see
http://www.platmin.com/im/media_display.asp?Id=2008/15sep2008

Why didnt CUO management report it?

Angers

Platmin ups Limpopo platinum project's resources
15 September 2008
Source: Mining weekly

TSX-listed Platmin on Monday announced the positive results of a revised mineral resource estimate for its Mphahlele project in South Africa’s Limpopo province.

The indicated mineral resources have increased by 37,4% to 7,8-million ounces as a result of in-fill drilling and the inferred mineral resources by 47,1% to 10-million ounces as a result of the discovery of extensions in the UG2 chromitite layer and the Merensky Reef mineralisation, at depth.

As a result of this, Platmin’s global mineral resource estimates have been increased by 15,2% to 16,1-million ounces in the measured and indicated mineral resource categories, and by 19, 7% to 19,55-million ounces in the inferred mineral resource category.

In addition to the revised resource estimate, new analytical results allowed for the inclusion of iridium and ruthenium, to minor platinum-group metals in the resource estimate. These metals occurred with platinum, palladium, rhodium, and gold throughout the Bushveld Complex on both the Merensky Reef and UG2 chromitite layer, and were expected to be economically recovered as coproducts.

Comparison of the three platinum-group elements (PGEs) and gold grades from the previous, to the current estimate, indicated decreases in the grades estimated for both reefs. This was partly as a result of greater reef width being applied and a larger data set being used in the estimation.

Platmin CEO Ian Watson said that this substantial increase in the indicated mineral resource at the Mphahlele project underpinned a definitive feasibility study that was being undertaken by SRK Consulting Engineers, which was scheduled for completion at the end of this year.

This study was expected to demonstrate that an economically viable project could be developed, which would produce over 270 000 oz of 5PGEs and gold in concentrates, from near surface resources. The initial life-of-mine was expected to be more than 20 years, Watson said.

The study would investigate mining down to about 500 m below surface using the expertise of mining contractor Murray & Roberts Cementation to carry out the design and the detailed mine scheduling. It was anticipated that both the Merensky Reef and UG2 ores would be processed through a single conventional flotation plant, designed to increase the production rate.