Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Letmebe Frank who wrote (6852)	4/9/2002 9:26:06 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

British platinum miner fast-tracks S A project Johannesburg \| Tuesday -------------------------------------------------------------------------------- CLUFF Mining Plc said on Tuesday it will fast-track its South African Blue Ridge Platinum Project which could produce 200 000 ounces of platinum group metals (PGM) a year. The latest results of a drilling exploration programme showed a measured resource of 1,1-million ounces of platinum group metals, Cluff said in a statement. "Following the exploration success of the company's PGM projects, the directors of the company have taken a strategic decision to become a focused PGM producer and to progress these PGM projects as a matter of priority," Cluff said. "The success of the exploration at Blue Ridge justifies our decision to fast-track the project," it said. A recently commissioned feasibility study, due to be completed by the end of 2002, will investigate production of 200 000 ounces of platinum group metals (PGM) a year. The exploration drilling programme has also defined a platinum to palladium ratio of 2,5 to one. "Additional drilling will be carried out aimed at upgrading and extending the resource at Blue Ridge," Cluff said. The total mineral resource of PGMs and gold was put at 3.6 million ounces, with a grade of 3,6-grams per ton. Cluff was also continuing negotiations with world number one platinum producer Anglo American Platinum about Sheba Ridge, Cluff's other key PGM project. The Blue Ridge project is on the Bushveld Complex, which is mined by the world's top two platinum producers, Angloplat and Impala Platinum. Cluff shares were up 1,34% at 266 pence on thin volume. - Reuters mg.co.za