/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
TORONTO, Dec. 3 /CNW/ - Platmin Limited ("Platmin" or the "Company",
TSX/AIM: PPN) is pleased to announce that Karrick Limited ("Karrick"), has
acquired an additional 9,577,951 shares in the share capital of Platmin from
the CDC Group plc ("CDC") as announced by Karrick on November 12, 2007. This
latest purchase follows Karrick's acquisition of 9,676,380 shares in the share
capital of Platmin from African Lion, an Australian-based fund as announced by
Karrick on November 7, 2007.
As a result of the share purchases, Karrick has increased its stake in
Platmin to approximately 19.9% of the issued share capital of Platmin.
Karrick is a Guernsey-registered company and is wholly-owned by Karrick
Trust established for various members of the Lakshmi Mittal family. Karrick,
an investment company, is a long-term value and growth investor.
Platmin CEO, Ian Watson expresses his appreciation for the support
provided to Platmin by both African Lion and CDC through the discovery phases
of Platmin's various exploration programs. He also welcomes Karrick as a
significant shareholder of Platmin at a time when the Company is progressing
development of the Pilanesberg Project and progressing towards its goal of
becoming an independent mid-tier PGM producer.
"We have four high-quality PGM projects in progress with engineering
studies investigating smelting alternatives. Based on the construction program
in place at the Pilanesberg Project first production is anticipated in the
first quarter of 2009."
Platmin is a TSX and AIM (PPN) listed PGM exploration and development
company focused on its four key advanced projects that host PGM Mineral
Resources and Reserves: Pilanesberg, M'Phatlele, Grootboom and Loskop of which
the Pilanesberg Project is currently in the development phase with the balance
expected to follow. All of Platmin's projects are located in the Bushveld
Complex of South Africa, which is estimated to contain approximately 90% of
global platinum Mineral Resources.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this Market Release constitute
forward-looking information within the meaning of securities laws, including
statements regarding the Platmin becoming a mid-tier producer, achieving
production by the first quarter of 2009, the outcome of the study
investigating smelter alternatives, the nature of Karrick's holding in
Platmin. Forward-looking information may relate to this and other matters
identified in our public filings, our future outlook and anticipated events or
results and, in some cases, can be identified by terminology such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. These statements are based
on certain factors and assumptions including the results of marketing efforts,
expected growth, results of operations, performance and business prospects and
opportunities. While we consider these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
Forward looking-information is also subject to certain factors, including
risks and uncertainties that could cause actual results to differ materially
from what we currently expect. These factors include changes in market and
competition, governmental or regulatory developments and general economic
conditions. There can be no assurance that the any forward-looking statements
in this Market release will eventuate in the timeframes stated or at all or on
terms acceptable to Platmin.
This Market Release does not constitute or form part of any offer or
invitation to sell or issue or any solicitation of any offer to purchase or
subscribe for any securities in any jurisdiction, nor shall it (or any part of
it) or the fact of its distribution form the basis of, or be relied upon in
connection with, or act as any inducement to enter into, any contract or
For further information:
For further information: Platmin Limited: 6 EcoFusion Office Park, Block
B, 324, Witch-Hazel Avenue, Highveld Park, X59, 0157, Centurion, 0067, South
Africa; Keith Liddell, Executive Deputy Chairman, +61 8 9221 7466; Ian Watson,
Chief Executive Officer, +27 12 661 4280; RBC Capital Markets: Peter
Barrett-Lennard, +44 20 7653 4253; Grant Thornton Corporate Finance (Nomad):
Fiona Owen, +44 207 383 5100; GMP Securities L.P.: Mark Wellings, (416)
367-8600; Haywood Securities: John Willett, (416) 507-2345