Wesizwe Platinum revealed that the results of a bankable feasibility study into the development of a 235,000 oz to 271,000 oz/year platinum mine by Platinum Group Metals have led to a new valuation of its stake in the Western Bushveld joint venture.

According to the firm, the 26 per cent stake in the operation is worth R1.2 billion.

The project is shared between Platinum Group Metals and Wesizwe, while Anglo Platinum also has a stake in the mine.

The firm said the mine has a life of 22 years and the calculation of its present value followed the results of a bankable feasibility study.

Mike Soloman, Chief Executive Officer of Wesizwe Platinum, said the new feasibility study adds value to the project as the firm continues its "strategic imperative of regional consolidation around the Pilanesberg".

The total cost of the mine is valued at R4.1 billion.



Source:
Wesizwe Pt, 08/07/08
http://www.miningmx.com/wts/652637.htm