- Syndicate includes Barclays/ABSA, Standard Bank, Caterpillar Financial and Societe Generale.
- $260M (USD) senior loan facility with a nine year term.
- Additional working capital facility – up to $25M (USD) with standby subordinate loan facility if required.
- Hedging emphasis on byproducts – palladium, gold, base metals – platinum is 70% of projected revenue.
• Q1 2012 – Mining Right record of decision – COMPLETED
• Q3 2012 – Waterberg Initial Resource - COMPLETED
• Q3 2012 – Concentrate off-take agreement - COMPLETED
• Q4 2012 – Project Banking
• Q4 2012 – Start of Phase 2 Construction
• Q4 2012 – Waterberg Regional Exploration and Resource Update
• Mid 2014 – WBJV First production
- Large scale, high margin platinum development in progress.
- Large scale PGM discovery on North Limb with Japanese partner JOGMEC.
- Near term milestones: funding completion, construction ramp up and expansion of Waterberg resource.
- Strategic project portfolio in a challenging climate for PGM producers globally.