Anglo Platinum has said that the number of shares in Northam Platinum that will be received by Mvela Resources for 100 per cent of Booysendal platinum project will be 121 million, down from the 125 million previously stated.

It also said that the northern limit of the Booysendal property that will be acquired will dip in a line beginning 1.3 kilometres northward along the surface strike length of the ore body.

Previously, Anglo Platinum has said that Mvela Resources would acquire the total 22.4 per cent stake held by Anglo Platinum in Northam Platinum.

Mvela Resources was also expected to acquire Anglo Platinum's 50 per cent effective interest in the Booysendal project for R4 billion.

The acquisition of Anglo Platinum's 50 per cent in Booysendal was based on the assumption that Booysendal comprised a mineral resource of 112 million ounces of platinum group metals (pgm).

As a result of the line move, the Booysendal Extension now contains a total mineral resource estimated to be 103 million ounces of pgm.

But in November Anglo Platinum said that its Mvela Resources and Northam transactions would be delayed because the transactions were complex.

Source:

Anglo Platinum says Mvela to get 121 mln Northam shares in Booysendal buy, 31/01/08 5:53
http://www.forbes.com/markets/feeds/afx/2008/01/31/afx4596798.html

Ÿ Adfero Ltd