JSE Securities Exchange-listed Thabex Exploration on Friday announced that Australian junior mining company, AIM Resources, will exercise its option to acquire Thabex’s Mokopane Platreef project for R20-million.

Held by Platinexco, a wholly owned subsidiary of Thabex Exploration, an earlier geological review confirmed a platinum group metals (PGM) -nickel resource estimated at over one-million ounces of platinum equivalent in the ground for the project.

Subsequent to its sale, Thabex expects that the company’s earnings and headline earnings for the current financial year to be substantially above the earnings for the year ended February 28, 2003.

“Cash raised with this transaction will improve the company’s ability to conduct larger exploration projects in future, attract the right joint venture partners, as well as accelerate its current portfolio of mineral interests in diamonds, precious metals and base minerals,” said Marius Welthagen, chief executive and MD for Thabex Exploration.