CMO - CHROMETCO LIMITED - Section 11 Consent

CHROMETCO LIMITED 

(Incorporated in the Republic of South Africa) 

(Registration number: 2002/026265/06) 

Share code: CMO 

ISIN Code: ZAE000070249 

(“Chrometco” or “the Company”) 

 

SECTION 11 CONSENT 

 

Shareholders are referred to the SENS announcement released on 14 September 2015 as well as the circular dated 2 October 2012 regarding the acquisition by Chrometco of drill data, drill core and abandonment of prospecting right for PGMs and other metals in favour of Chrometco by NKWE Platinum (South Africa) Proprietary Limited (“NKWE”) and Realm Resources Limited (“Realm”) (“the Transaction”). 

 

Chrometco is pleased to announce that it has received letters from the Department of Mineral Resources granting consent in terms of section 11 of the Mineral and Petroleum Resources Development Act No 28 of 2002 (“MPRDA”) to transfer the mining rights M404 and M405, which are the mining rights on portion two and the remainder portion, to Rooderand Chrome (Pty) Limited (“Rooderand”) a 74% held CMO subsidiary.  

 

This is a further major milestone towards the completion of the Transaction, which will result in a combined mining right for Chrome, PGMs and other metals on the remainder portion of Rooderand. 

 

Rooderand is also appropriately empowered with the required 26% BEE shareholding and concluding the transfer of the mining rights will furthermore ensure compliance with the MPRDA in that respect.

 

Shareholders will be kept informed of progress in this regard. 

 

30 September 2015