RESPONSE TO MEDIA SPECULATION AND FURTHER CAUTIONARY ANNOUNCEMENT Eland Platinum is currently trading under a cautionary announcement and the circumstances which gave rise to this remain. Shareholders are advised that, following the recent heightened media speculation relating to possible corporate activity, the directors of Eland Platinum have requested the JSE Limited ("the JSE") to investigate the events surrounding the recent share price volatility of the Company's shares on the JSE. Shareholders are advised that some of the recent articles published on Mineweb.com and associated publications relating to Eland Platinum, contain material inaccuracies. The directors of Eland Platinum are not at liberty to disclose further details at this stage. The development towards production of the Elandsfontein Platinum Mine ("Elandsfontein") remains on schedule. Further recent developments include: the acquisition of three additional properties adjacent to Elandsfontein, namely the 'Triangle' area, Madibeng and Mululamisi; the granting of a new order mining right and the commencement of large scale open pit mining operations at Elandsfontein; the conclusion of a Concentrate Sale Agreement with Rustenburg Platinum Mines Limited; and the conclusion of Project Finance Agreements with Nedbank, subject to the fulfilment of certain conditions precedent. Shareholders are advised that Eland Platinum continues to be engaged in discussions which, if successfully concluded, may have an effect on the price at which the Company's shares trade on the JSE. Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's shares until a further announcement is made.
Interesting points today in Moneyweb raised(see fear and loathing).Fair value somewhere between R30 to R50 depending on which buyers are involved.Lets not forget the CEO has been involved in controversy in the first plat rush around the nineties as well.