Braemore Strengthens ConRoast Technology Position
01 July 2009 - 4:00PM
UK Regulatory
TIDMBRR
RNS Number : 8541U
Braemore Resources PLC
01 July 2009
Braemore Resources Plc
("Braemore" or "the Company")
Braemore strengthens ConRoast technology position
Braemore Resources (AIM: BRR, JSE: BRE) is pleased to announce revisions to its
ConRoast Technology Agreement with Mintek.
The revised ConRoast agreement further strengthens the technology partnership
formed between Mintek and Braemore which provides for the commercial
exploitation of the ConRoast technology through the smelting and refining of
platinum group metals ("PGMs").
The amended agreement comes at an important juncture in Braemore's growth with
the development phase drawing to a conclusion and plans for the accelerated
commercialisation of the ConRoast technology.
Two key points within the amended agreement are as follows:
* Braemore Platinum has consolidated its sole, exclusive right to use and
commercially exploit the ConRoast technology within the PGM industry on a global
basis.
* An extension of the exclusivity period is available to Braemore for the life of
the ConRoast patents which expire in 2020 and can be nominated at Braemore' s
election by giving notice prior to reaching the end of the current exclusivity
period.
Leon Coetzer, CEO of Braemore, commented, "This extension and continuing
exclusivity reflects the considerable progress we have made and the results we
have achieved to date in the development and application of the ConRoast
technology. The revised agreement represents a strengthened foundation from
which to accelerate the commercialisation of the technology through further
partnerships or joint ventures with PGM producers."
Enquiries:
Braemore Resources Plc
Leon Coetzer, Chief Executive Officer
+27 11 557 6413
WH Ireland: (Nomad and Joint Broker)
James Joyce
+44 207 220 1666
Mirabaud Securities: (Joint Broker)
Rory Scott
+44 207 878 3360
Qinisele Resources: (RSA Corporate Advisers)
Dennis Tucker
+27 82 492 4957
Russell and Associates: (RSA Public Relations)
Nicola Taylor/Charmane Russell
+27 11 880 3924
Walbrook PR: (UK Public Relations)
Louise Goodeve/Leah Kramer
+44 207 933 8780
Sasfin: (RSA Corporate Sponsor)
Sharon Owens
+27 11 809 7762
Notes to Editors:
Braemore Resources offers investors an attractive opportunity to enter into the
PGMs and nickel business, initially through the mid-stream processing of these
metals and, in time, through mine-to-market production opportunities.
Braemore Resources is principally involved in evaluating, establishing and
operating independent facilities for the roasting, smelting and refining of
concentrates containing PGM and associated base metals and for the reclamation
and processing of sulphide nickel tailings. Diversified both geographically and
in terms of product, the company is located in two key mining regions - Braemore
Nickel in Western Australia and Braemore Platinum in South Africa. Braemore's
access to proprietary technology, and in particular the Mintek ConRoast
technology, which has successfully operated at test plant level, makes the
company well-positioned to become a significant player in the burgeoning South
African PGMs sector, offering a more cost-effective, environmentally friendly
and accessible smelting option to many junior mining companies. Unlike
conventional smelters, ConRoast is unaffected by the high-chrome content ores,
which are increasingly being mined.
Braemore's management team, in South Africa and Australia, bring with them
impressive credentials in their respective sectors, combined with a Board that
has experience in metals processing, financial and commodities markets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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