TORONTO (miningweekly.com) – Aim- and JSE-listed Braemore Resources is in discussions with a third party that could lead to an offer for the company, it disclosed on Tuesday.

“At this stage there is no certainty that an offer will be made for the company or of the terms on which any offer might be made,” the firm said.

Braemore has exclusive rights to the patented ConRoast smelting technology, which recovers platinum-group metals and base metals from ores that might be difficult to process by conventional smelting methods.

The company already operates one smelting facility in South Africa, and said in May it was in talks with various parties to fund its short-term working capital needs and finance the construction of its next-stage smelter facility with refining capability.

It also has nickel-sulphide tailings projects in Australia.

Braemore shares rose 17,4% on Tuesday, to 5,2p by 16:03 in London.

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