https://www.miningweekly.com

Atlatsa management subject to cease trade order on late Q2 results filing

15th August 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – The British Columbia Securities Commission will on Tuesday issue the management of Johannesburg-headquartered miner Atlatsa Resources with a cease trade order, rather than an issuer cease trade order, owing to the company’s inability to file its second-quarter financial and operational results.

The late filing is the result of the recently announced financial restructure plan with Anglo American Platinum (Amplats).

Atlatsa said it was uncertain when the company would be able to file its documents with the Canadian securities regulator.

Atlatsa, which has stock listings on the TSX and JSE, in July announced plans to implement a two-phase restructure plan that will see its joint venture (JV) Bokoni mine idled, with JV partner Amplats acquiring the resources specified in the Central Block and Kwanda North prospecting rights.

A letter agreement between the JV partners outlined the Phase 1 care-and-maintenance strategy for the embattled mine, with Amplats funding all costs associated with the process up until December 31, 2019, and suspending the servicing and repayment of the current R4.2-billion and future debt owing by Atlatsa until then.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 0.715s - 126pq - 2rq
Subscribe Now