Lesego Platinum has postponed its listing on the JSE that was scheduled for later this month.

Recent volatility in financial markets, along with negative feeling within the platinum group metals sector, has led the firm to postpone the listing until conditions are improved.

Chief Executive Officer Phiway Mbuyazi said that the decision was made in co-operation with the firm's controlling shareholders.

"We have been encouraged by the significant levels of interest in support of our Phosiri Project in South Africa's Eastern Limb of the Bushveld Complex," he explained.

He also revealed that alternative funding would be used to keep the project running in the short term.

Despite the problems, Mr Mbuyazi revealed that he was confident that Lesego Platinum remained in a strong position to get the maximum value from the project.

The project has a total inferred mineral resource of 27.8 million ounces (3 PGE plus Au), Mineweb reports.



Source:
Lesego Platinum postpones listing, 28/07/08
http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=57977&sn=Detail