Braemore Resources Plc – Market update on the Leinster Nickel Tailings Project
Braemore Resources Plc is pleased to update the market on progress with the Leinster Nickel Tailings Project.
As previously advised to shareholders, BHP Billiton has been conducting a technical and financial review on the scoping studies provided by Braemore in February 2009. The review is ongoing following provision of additional data requested by BHP Billiton during the period to date and is expected to be completed during the third quarter of 2009.
Leon Coetzer, Braemore’s CEO, commented, "The Leinster project is moving steadily forward. We continue to be cautiously optimistic of the project’s merits, and have maintained our area of focus amid the recently announced corporate activity.”
Braemore Resources offers investors an attractive opportunity to enter into the PGMs and nickel business, initially through the mid-stream processing of these metals and, in time, through mine-to-market production opportunities.
Company Background
Braemore Resources is principally involved in evaluating, establishing and operating independent facilities for the roasting, smelting and refining of concentrates containing PGM and associated base metals and for the reclamation and processing of sulphide nickel tailings. Diversified both geographically and in terms of product, the company is located in two key mining regions – Braemore Nickel in Western Australia and Braemore Platinum in South Africa. Braemore’s access to proprietary technology, and in particular the Mintek ConRoast technology, which has successfully operated at test plant level, makes the company well-positioned to become a significant player in the burgeoning South African PGMs sector, offering a more cost-effective, environmentally friendly and accessible smelting option to many junior mining companies. Unlike conventional smelters, ConRoast is unaffected by the high-chrome content ores, which are increasingly being mined.
Braemore’s management team, in South Africa and Australia, bring with them impressive credentials in their respective sectors, combined with a Board that has experience in metals processing, financial and commodities markets.