Announcement Date: 2022-05-30
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Sedibelo Platinum Mines Ltd.
Project name: Kruidfontein
Location: South Africa
Commodities: Gold,Iridium,Palladium,Platinum,Rhodium,Ruthenium,Copper,Nickel
Highlight: PEA results incl. NPV (8%) of ZAR$4.142M & IRR of 11.6%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: SRK Consulting (South Africa) (Pty) Ltd (SRK) was appointed by Sedibelo Platinum Mines Ltd (SPM, also referred to as the Company) to compile a Technical Report (TR) to present the results of a Preliminary Economic Assessment (PEA) of the Kruidfontein PGM Project (the Kruidfontein Project) located in the North West Province of South Africa. This TR has been prepared according to the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI43-101) of the Canadian Securities Administrators and Form 43-101F1 – Technical Report (the Form). SPM, formerly Platmin Limited, delisted from the Toronto Stock Exchange in 2010, but remained a “reporting issuer” for the purposes of Canadian securities laws and subject to all continuous disclosure obligations under those laws. SPM indirectly holds the mineral rights to a platinum group metal (PGM) operating mine and several PGM projects in the Republic of South Africa. This TR presents the results of a PEA for the Kruidfontein Project, which was acquired by SPM during 2014, to satisfy SPM’s continuous disclosure obligations. The PEA is based on a Competent Person’s Report (CPR) and Concept Study (the Concept Study) both compiled in 2010.
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