JOHANNESBURG, Dec. 12, 2013 /CNW/ - Atlatsa Resources Corporation
(Atlatsa) (TSXV: ATL; NYSE MKT: ATL; JSE:ATL) is pleased to announce
that the South African Department of Mineral Resources (DMR) has
executed amended mining rights in favour of its subsidiary, Bokoni
Platinum Mines Pty Ltd and Anglo American Platinum Ltd's subsidiary,
Rustenberg Platinum Mines Ltd respectively.
Pursuant to execution of the amended mineral titles Atlatsa and Anglo
American Platinum will now proceed to implement the following series of
transactions, comprising key elements of the Restructure Plan
previously announced by the parties on 27 March, 2013 ("Restructure
The conclusion and implementation of the new debt and working capital
facilities agreed between Anglo American Platinum and Atlatsa in terms
of the Restructure Plan; and
The sale and transfer by Atlatsa of mineral properties to Anglo American
Platinum, comprising the eastern section of the Ga Phasha PGM project,
together with its entire interest in the Boikgantsho PGM project for an
aggregate purchase consideration of ZAR 1.7 billion (US$ 165 million).
The proceeds from such asset sales will be utilized by Atlatsa to
reduce debt owing to Anglo American Platinum.
Implementation of these transactions will result in a material reduction
in Atlatsa's balance sheet debt position and its cost of borrowing.
Please refer to www.atlatsaresources.co.za for full details of the Restructure Plan.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
The NYSE MKT LLC has neither approved nor disapproved the contents of
this press release.
SOURCE: Atlatsa Resources Corporation
For further information:
On behalf of Atlatsa Resources
Joel Kesler, Chief Commercial Officer
Office: +27 11779 6800
Mobile: +27 82454 5556
Russell and Associates
Office: +27 11880 3924
Mobile: +27 82872 6387
Macquarie First South Capital
Office: +27 11583 2000