Facts, flight and fiction

Finweek English Edition - - Letters - JM VAN DEN HEEVER

I RE­FER TO THE AR­TI­CLE by David McKay: Plat­inum – A bird in flight, in Fin­week of 15 Fe­bru­ary 2007. This ar­ti­cle merely re­flects what has been pub­lished in Min­ing Weekly about the Tjate mine and the nickel prospect of Ju­bilee ad nau­seum over a pe­riod of months. In­vestors are only in­ter­ested in facts, not the puff­ing up of th­ese prospects by Colin Bird.

The Tjate plat­inum prospect for var­i­ous rea­sons will not be mined for many years to come. It is sit­u­ated down dip from mines owned by Im­pala and An­glo Amer­i­can and will be a rel­a­tively deep mine of about 1 000m. The pre-fea­si­bil­ity has not even been com­pleted so there are no con­crete facts avail­able. Only when a bank­able fea­si­bil­ity study, not re­motely in sight, had been com­pleted would in­vestors start tak­ing no­tice.

Colin Bird re­ally goes over­board when he writes that the nickel prospect in Mada­gas­car is larger than the Bushveld Com­plex. The length of the nickel prospect west of the Pi­lanes­berg is ap­prox­i­mately 20km long but is an in­fin­itely small pro­por­tion of the Bushveld Com­plex and so is his nickel prospect in Mada­gas­car. The plat­inum pro­por­tions in both nickel prospects are no more than a small pro­por­tion of the to­tal.

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