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Tagged with: PLA

Mar 2006 - Platinum Australia

Platinum Australia Ltd (PLA) – Bringing Smokey Hills into Production at ~95,000ozpa 4E (>40,000ozpa platinum)

  • Platinum Australia (PLA) currently has two main projects in South Africa that are in the process of being taken through to platinum production, namely Smokey Hills in the east (~13km NW of Steelpoort) and Kalplats (~90km SW of Mafeking).
  • PLA expects both projects to soon receive their “New Order” Prospecting Rights allowing Smokey Hills to convert to a Mining Right after completing the BFS in June 2006, and Kalplats to extend the exploration, upgrade the ore resource and complete a BFS by June 2007.
  • Smokey Hills is a conventional UG2 eastern limb (of the Bushveld) reef that is expected to initially be mined by open-cut and then underground, very similar to the UG2 being mined underground on the adjacent Modikwa (ARM/Angloplats) platinum mine about 4km further south. Production has been estimated at ~95,000ozpa 4E PGM (Pt, Pd, Rh, Au) based on diluted grades of 5.0g/t and 82.5% recoveries, although >5.2g/t 4E and >=85% recoveries appear to be achievable.
  • Kalplats represents a previously unrecognised style of platinum mineralisation in 3bn year-old greenstone rocks. Initial studies show that production from the >3.5g/t higher grade reefs could result in 3E PGM production rates ~190,000ozpa, although we have used a more conservative model on 3.25g/t and ~175,000ozpa.
  • Both Smokey Hills and Kalplats appear to have significant upside potential. Smokey Hills could extend its planned mining west across the boundary into Modikwa ground in an arrangement with ARM/Angloplats, while Kalplats appears to have been misunderstood, with recoveries ~80% using conventional techniques, and possibly material extensions on strike and on parallel structures.

Oct 2006 - Platinum Australia

Platinum Australia Ltd (PLA) – Smokey Hills Production Still Expected from 2007

  • All 3 Platinum Australia (PLA) projects are now on a path to platinum production, with Smokey Hills (Eastern South Africa) expected to start production early in 2007. The Panton project in WA could be in production in JV with Sally Malay by the end of 2007, and Kalplats (Central South Africa) after the expected completion of its BFS by the end of 2007, could be in production in late 2008 / early 2009.
  • Smokey Hills received its “New Order” Prospecting Right on 11 September 2006 through the cessation (or transfer) of the New Order Prospecting Right from its JV partner (Corridor Mining Resources) to the JV company (PhokaThaba Platinum Pty Ltd) in which PLA holds 80%. Application has been made for the New Order Mining Right, which may be received by late 2006 or early 2007.
  • Should the Mining Right be received by early 2007, PLA expects to start mining and toll treating Smokey Hills’ UG2 ore through a nearby plant, while constructing its own concentrator for production of ~100,000ozpa 4EPGE (Pt, Pd, Rh & Au).
  • A “New Order” Prospecting Right was also received for Kalplats on 11 September 2006 and drilling has consequently started aimed at increasing the size of the resource, as part of completing a PFS by April/May 2007 and a subsequent BFS by the end of 2007. Production is targeted at 170,000ozpa to 270,000ozpa 3EPGE with PLA earning a 49% interest from ARMplats.
  • Both Smokey Hills and Kalplats appear to have significant upside potential. Smokey Hills could extend its planned mining west across the boundary into Modikwa ground in an arrangement with ARM/Angloplats, while Kalplats appears to have been misunderstood, with recoveries ~80% using conventional techniques, & potentially material extensions on strike and on parallel structures.

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