Update on the sale of Booysendal South
Northam confirms that the termination date for the fulfillment of certain of the conditions precedent to the implementation of the sale of Booysendal South to Aquarius Platinum (South Africa) Proprietary Limited, a subsidiary of Aquarius Platinum Limited (‘Aquarius’) expired on 30 April 2013.
These conditions included the amendments of the relevant mining rights to effect the transfer of Booysendal South to Aquarius in terms of Section 102 of the Mineral and Petroleum Resources Development Act.
Booysendal South is important to the development of Aquarius’ Everest Mine. Accordingly, Northam has been advised by Aquarius that it will remain in contact with the Department of Mineral Resources and Northam in connection with the proposed transaction.
2 May 2013
Russell & Associates
Tel +27 11 880 3924