PLATINUM AUSTRALIA LIMITED - ASX: PLA

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Description

Platinum Australia operates the Smokey Hills Platinum Mine in South Africa which has a projected average annual production capacity of ~100,000 ozs 4E PGM. The open pit and underground operation commenced production in early 2009 and is projected to be one of the lowest cost producers in the World.

In addition the Company has a diverse and exciting portfolio of advanced PGM projects in South Africa and Australia providing a pipeline of projects for potential development. The Company is also actively seeking further quality projects to add to this portfolio.

In South Africa the Company is undertaking a Definitive Feasibility Study on the Kalahari Platinum Project (PLA earning 49% from ARMplatinum) on the development of an initial ~140,000 oz 4E PGM open pit operation, with the potential to expand the operation up to ~300,000 oz 4E PGM per annum.

Also in South Africa, the Company has recently signed a Heads of Agreement with Atla Mining Resources (Pty) Ltd, a company majority owned and controlled by the Bakgatla-Ba-Kgafela tribe. The project has a resource of over 3 Moz 4E PGM from surface to a depth of 500m below surface and the Company believes the project has the potential to be developed as a ~150,000 oz 4E PGM per annum open pit and underground operation.

In Australia, PLA owns the Panton Project which has a current high grade resource of 10 Mt @ 6.1 g/t PGM. While this project is not viable at current metal prices, the Company believes further recovery in metal prices could render the project commercially attractive.

The Company has also developed a new metallurgical process for the recovery of PGM's, the Panton Process, which was developed as part of a Feasibility Study undertaken on the Panton Project. This process, which has been patented, has a number of potential benefits over the traditional smelter route including potential improved recoveries, reduced concentrate transport costs, increased value of final product and reduced environmental impact.

PLA has developed significant specialised knowledge and expertise of the PGM industry since its inception, while in addition, personnel within the Company have a high level of skills and experience in the areas of project evaluation & development and mining operations.

The Company believes that the skills and experience of its personnel, combined with the quality of its development assets, make it uniquely placed to successfully grow into a significant mid tier platinum producer.

Mine For

platinum, platinum group elements, vanadium, gold, titanium

Location of operation(s)

Western Australia, South Africa

Address

Level 3 , 18 Richardson Street
WEST PERTH, WA, AUSTRALIA

Phone

08 9324 1491

Email

Website

http://www.platinumaus.com.au/

Last Updated

21/02/2010