Braemore Resources Plc – Technology & Operations Update

Braemore Resources Plc – Technology & Operations Update

Technology & Operations Update

As stated in the Operations Update released on 19 May 2009 Braemore Resources Plc (BRR) has commenced with the restructuring of its 3.2MW demonstration smelting facility at Mintek to further reduce operating costs of the demonstration smelter.

In addition, the Company is in discussions regarding funding to construct and commission the hydrometallurgical refining process, designed to significantly uplift the value of the PGM product.  This is achieved by separating the PGM’s from the base metals such as Nickel, Copper, Cobalt and Iron, and therein producing a high value PGM concentrate for direct processing at PGM refineries.

The furnace has successfully demonstrated the technology offering to the Platinum industry and has allowed Braemore to progress with the development of the hydrometallurgical refining process.  The refining process is key to ensuring the commercial viability of the demonstration facility within the current market environment of a strong South African rand and suppressed metal prices.

The 3.2MW demonstration furnace operation will remain temporarily halted during this period while we restructure the operation and focus on the construction of the refinery process.  The reduced furnace throughput during this period is expected to be offset by the Company’s ability to provide an extended process offering by both smelting and refining of Platinum Group Metal (PGM) concentrates.

Leon Coetzer, Chief Executive Officer, commented, “Having demonstrated the success of the furnace technology, our focus now turns to the installation of the hydrometallurgical refining plant.  This broadened capability will enable Braemore to deliver a complete process offering to the PGM sector and is a key part of the commercialisation of the Company’s proven technology.”

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