Renewal of Prospecting Rights
Johannesburg 19 July 2012: Bauba Platinum is pleased to announce that it has been granted the renewal of the two new order Prospecting Rights, held by Bauba A Hlabirwa Mining Investments (Pty) Ltd (“Bauba A Hlabirwa”), over the Bauba Project. Bauba A Hlabirwa is 60% held by Bauba Platinum and 40% by the Bapedi Nation.
The Prospecting Rights have been issued by the Department of Mineral Resources for a further period of three years. They cover all eight properties which make up the Bauba Project and which are geographically grouped as the Southern, Central and Northern clusters.
The renewed rights have been notarially executed and will be lodged with the Mineral and Petroleum Titles Office for registration.
“We are delighted that the renewals have been granted. This will allow the company to continue to develop the Bauba Project in accordance with our strategy and in collaboration with the Bapedi Nation,” said Bauba’s Chief Executive, Grant Pitt.