Eastplats to undertake further assessment work at Mareesburg
JOHANNESBURG (miningweekly.com) – A focused reassessment and additional work is targeted for the Mareesburg openpit project, in Limpopo, as dual-listed Eastern Platinum (Eastplats) takes a “fresh look” at its mineral properties during this year, with a view to advance available development opportunities.
The company said on Friday that it would undertake an additional limited infill drilling programme for resource and reserve determination, after the outcomes of ongoing portfolio reviews warranted further site assessment.
“The recommendation of location of infill drilling holes has been made based on a review of the historical drilling results by SRK Consulting,” the company noted in an update to shareholders.
“The drilling work will be carried out by a local operator in South Africa. Community liaison is also under way to ensure local communities are accommodated and updated on the project status,” it said.
This followed a liquidation application filed last month by British Virgin Islands company AlphaGlobal Capital, in the Gauteng Division of the High Court in Pretoria, for the winding up of Eastplats.
Mining Weekly Online had earlier reported that Eastplats was opposing 'a claim' filed by AlphaGlobal against it relating to a 2007 agreement, under which AlphaGlobal was to have received R30.79-million.
The group said at the time that the claim was frivolous and vexatious and that it was of the view that no amount was owing to AlphaGlobal.
Eastplats subsequently entered a notice to oppose.
Eastplats has also missed the March 31 deadline to file its financial statements for the financial year ended December 31, as it awaits finalisation of an investigation into certain transactions entered into by the company's former management.
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