JOHANNESBURG, July 1, 2015 /CNW/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSX: ATL; NYSE MKT: ATL; JSE: ATL) refers shareholders to Section 1.11 "Liquidity" of the Management's Discussion and Analysis of Financial Condition and Results of Operations and note 2 "Going Concern" of the Consolidated Financial Statements for the year ended December 31, 2014 filed on SEDAR and EDGAR.
On November 10, 2014, a letter of support was received from Anglo American Platinum Limited ("Anglo Platinum") to provide financial support up to a maximum of CAD$42.4 million (ZAR422.0 million) to March 31, 2016, in the event of unforeseen circumstances not within the Company's control that may result in Bokoni Platinum Mines Proprietary Limited ("Bokoni Mine") not meeting its planned cash forecasts ("letter of support"). The letter of support was subject to certain terms and conditions, certain of which were to be met by June 30, 2015.
Further to various interactions between Atlatsa, Anglo Platinum and the Department of Mineral Resources, South Africa, the Company advises that the following conditions to the letter of support have not been met within their prescribed time frame:
Atlatsa remains in discussions with Anglo Platinum surrounding the future sustainability of Bokoni Mine as well as potential alternative financial support for the Company, having regard to current challenges within the South African platinum industry.
SOURCE Atlatsa Resources Corporation
For further information: Queries: On behalf of Atlatsa, Prudence Lebina, Head of Investor Relations, Office: +27 11 779 6800, Email: PrudenceL@atlatsa.com
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