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Published on 23 April 2015
Northam shareholders are referred to the SENS announcement dated 10 February 2015, wherein Shareholders were advised that Northam had entered into a sale of assets agreement with Aquarius Platinum (South Africa) (Pty) Ltd to acquire the Everest Mining Assets and Everest Mining Right, for a total cash purchase consideration of R450 million, comprising R400 million for the Everest Mining Assets and R50 million for the Everest Mining Right.
Northam is pleased to announce that all the Part A Conditions Precedent have been fulfilled, as a result of which the Part A Sale has become unconditional. The Part A sale will be implemented on 26 June 2015, when Northam will acquire the Everest Mining Assets for a cash purchase consideration of R400 million.
Paul Dunne, CEO of Northam, says, "The Part A completion gives Northam management early access to the Everest assets, and gives us the opportunity to start the integration process with the existing Booysendal operation. With the conclusion of this step we will be in a position to start extracting value and developing the new Booysendal South mine."
The Part B Sale, pursuant to which Northam will acquire the Everest Mining Right for a cash purchase consideration of R50 million, remains conditional on the Minister of Mineral Resources granting consent for the transfer of the Everest Mining Right to Northam in terms of section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002.
Johannesburg
23 April 2015
Corporate Advisor, Sponsor and Debt Sponsor: One Capital
Attorneys: Cliffe Dekker Hofmeyr Incorporated
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Northam Platinum Ltd
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PRODUCER |
CODE : NOC.BE |
ISIN : ZAE000030912 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Northam Platinum is a platinum producing company based in South africa. Northam Platinum holds various exploration projects in South Africa. Its main asset in production is NORTHAM MINE in South Africa and its main asset in development is BOOYSENTHAL in South Africa. Northam Platinum is listed in Germany, in South Africa and in United States of America. Its market capitalisation is €UR 1.8 billions as of today (US$ 2.2 billions, € 1.8 billions). Its stock quote reached its lowest recent point on December 18, 2015 at €UR 1.16, and its highest recent level on September 08, 2021 at €UR 10.50. Northam Platinum has 174 810 000 shares outstanding. |