Deal creates new Realm
19th Mar 2012
SYDNEY, Mar 19 – Realm Resources has completed the acquisition of three platinum group metal (PGM) tenements in South Africa for 50,010,000 of its shares.
The tenements make up the Kliprivier, Ghost Mountain and Tinderbox projects on the Eastern Limb of the Bushveld Igneous Complex in northern South Africa and contain an inferred resource of 109.6Mt @ 2.3g/t (3PGE+Au) containing 7.6Moz of PGM (undiscounted).
Realm will issue 34,789,565 shares to Morning Star Holdings (Australia), previously Realm Resources, and 15,220,435 shares to Nkwe Platinum (South Africa) Pty Ltd.
The company says continuing assessment of options to maximise the value of the PGM portfolio may include sale, joint ventures or proceeding with further exploration and resource development work.
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