London, England — MININGREVIEW.COM — 10 June 2008 – Braemore Resources plc – a company focusing on platinum and nickel in South Africa – has announced its intention to supplement its AIM listing by listing on the Main Board of the Johannesburg Stock Exchange (JSE).
A company news release issued here said the listing would provide Braemore with access to the South African capital markets via exposure to an enlarged potential shareholder base, and would improve share liquidity, while creating increased awareness of the company and its prospects among the South African investor community.
It added that initially Braemore would not be issuing any new shares as part of its JSE listing, but that it might at a later stage embark on raising funds for the further development of its platinum and nickel strategies.
Braemore acting CEO Clayton Dodd said: ‘While the AIM market remains our primary listing, the JSE listing will provide us with exposure to South African’s knowledgeable and informed investor base, while increasing our presence in one of our main countries of operation. This forms part of the group’s commitment to Mintek as part of the ConRoast Smelter Technology Agreement.”
Braemore is principally involved in evaluating, establishing and operating independent facilities for the roasting, smelting and refining of platinum group metal concentrates in South Africa, and the reclamation and processing of sulphide nickel tailings in Australia.
The company listed on AIM on 10 March 2005, and has an issued share capital of 688,325,036 ordinary shares of 0.1p each with a market capitalisation of GBP66m.
The JSE listing is being implemented by Qinisele Resources and sponsored by Sasfin Capital with AMC Consultants acting as the technical adviser.