Braemore Resources intends to raise funds for its planned 10MW platinum smelter after listing on the JSE.

The smelter will treat platinum concentrate with high chrome content through its unique ConRoast smelting technology and the listing could bring in $50 million worth of funding.

It will allow the firm to offer junior platinum miners a smelting option that could be exchanged for equity in companies with platinum resources and production.

According to reports from Mining Weekly, Braemore Resources will use the ConRoast smelting facility to negotiate with companies that had advanced platinum projects.

Clayton Dodd, Executive Director of the mining firm, said that there was a demand for new smelting facilities and said there was "a lot of negotiations going on".

When Braemore Resources goes onto the market in October, it will reveal that its BEE partner could own 50 per cent of the company and revealed that it would need to contribute to the funding of the smelter.

However, reports from Business Day indicated that the firm's fortunes are linked to its ability to manage and increase the sale of its smelting facilities, as well as the platinum industry.



Source:

Braemore's JSE market to fund first 10MW platinum smelter, 16/07/08
ttp://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=56886&sn=Detail

Braemore lists on JSE, says plans $50m share issue, 16/07/08
http://www.miningweekly.com/article.php?a_id=138188

Platinum loses sheen as Braemore lists on JSE, 17/07/08
http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A803419