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RESUMPTION OF MINING AT SMOKEY HILLS MINEPlatinum Australia...

  1. Hotfire
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    29/10/10
    11:10
    Post #: 7403889
    RESUMPTION OF MINING AT SMOKEY HILLS MINE
    Platinum Australia Limited (ASX:PLA) is pleased to advise that following the signing of a Settlement Agreement between PhokaThaba Platinum (Pty) Ltd (?PhokaThaba?), a South African subsidiary of PLA, and Redpath Mining (South Africa) (Pty) Ltd (?Redpath?), Redpath have vacated the Smokey Hills Mine site and the new underground mining contractor, JIC Mining Services (?JIC?) has mobilised to site.
    JIC anticipates that underground production will recommence on Monday 1st November and expects to rapidly ramp up production to previous levels in November assisted by the transfer of the majority of the existing workforce and the availability of approximately 25,000 tonnes of broken ore underground which requires only transportation to surface.
    PLA Price at posting: 63.8¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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