Nkwe Platinum has been granted mining rights on three of its properties on the eastern limb of the Bushveld Complex.
South Africa's Department of Mineral Resources granted the junior mining company rights over the Garatau, De Kom and Hoepakrantz farms.
Share trading in the company on the Australian Securities Exchange (ASX) resumed with the announcement by the DMR, which confirms Nkwe's legal tenure of the properties.
Nkwe and shareholder Genorah Resources will now finalise their joint venture and funding opportunities for the Garatau project, which will deliver 400,000 oz/y of platinum group metals for 40 years.
"The board and management believe it is about to embark on an exciting and profitable era in the migration of the company from being an aggressive exploration company to an equally competent miner and producer," said managing director Maredi Mphahlele.
Nwke said the granting of the mineral rights is a "milestone" in the company's development from an explorer to a producer.
The company reportedly has a measured resource base of 18.1 million 4E platinum group metal ounces.
Source:
Nkwe granted platinum rights, ASX suspension lifted (16/02/12)
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