Anooraq Resources revealed today (16th November) that it produced 30,835 oz pgm 4E in the quarter to 30th September 2009.

The three-month period was the first since the company completed its acquisition of a 51 per cent holding stake in the Bokoni Platinum Mines project on 1st July.

Platinum production at the South African facility was 16,668 oz, with palladium, rhodium and gold output reaching 11,249 oz, 1,877 oz and 1,040 oz respectively.

"This is our first report on the performance of Bokoni Platinum Mine and we are pleased to be able to indicate a positive trend for both production and costs," said President and CEO Philip Kotze.

"The new Brakfontein mine on the Merensky Reef at Bokoni represents a significant ramp-up operation and will play a key role in achieving our Phase One growth milestone of 270,000 oz pgm 4E by 2014."

In addition, Anooraq confirmed that mill production reached 254,399 tonnes, which represented a 15 per cent increase from the figure recorded for the first half of the year.

Pgm 4E head grade recovery was 4.19g/t for the quarter, while concentrator plant recoveries of 92 per cent and 89 per cent were achieved at Merensky and UG2 respectively.

The company described the rate at the two reefs as "among the highest in the pgm industry".

Anooraq Resources is the first black economic empowerment company to have two North American listings and one South African listing.

Source:

Anooraq Announces Results for the Periods Ended September 30, 2009 (16/11/09)

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