14th Feb 2005 17:14
Southern African Resources PLC14 February 2005 Southern African Resources Plc / Ticker: SFU / Index: AIM / Sector: Exploration RUBICON INCREASES HOLDING IN SOUTHERN AFRICAN RESOURCES London, 14 February 2005 - The AIM-listed platinum exploration and developmentcompany Southern African Resources (SAR) was notified on 10 February 2005 thaton 7 February 2005 Rubicon Master Fund had increased its holding of thecompany's ordinary shares of 0.1p each to 16,055,555 or 4.1% of the issuedordinary share capital. Rubicon previously held 3.3% of the company. Chief executive Roy Pitchford said the Rubicon move demonstrated the confidenceSAR's shareholders had in its ability to achieve its stated goal of becoming thepremier institutional-quality PGM (platinum group metals) development company. SAR controls a resource base of 56 million inferred ounces of 4E (three platinumgroup elements plus gold) at its flagship Leeuwkop project on the Western Limbof South Africa's Bushveld Complex, the world's major platinum district. It iscurrently completing a prefeasibility study on the project, which it hopes todevelop into a 300, 000 ounce per year mine, as well as continuing with anexploration programme designed to increase the resource base to more than 100million ounces. It is also exploring for other PGM opportunities elsewhere inSouthern Africa. SAR has attracted some of the leading US institutional investors onto its shareregister. In addition to Rubicon, these include Fidelity, US Global, RoyceValue Fund and Tocqueville Gold Fund. SOUTHERN AFRICAN RESOURCES ENQUIRIES: Chief Executive - Roy Pitchford Tel: +27 11 234 2580, Cell: +27 (0) 82 419 2581Investor & Media Relations - Kathy du Plessis, du Plessis Associates Tel: +27 11728 4701, Cell: +27 (0) 83 266 5847, E-mail: [email protected]: www.sar-plc.com DISCLAIMER: Investing in all equities, including natural resources-relatedequities, carries risks which should be taken into consideration when making aninvestment. This announcement contains forward-looking statements regardingSouthern African Resources Plc, including the development of its miningdevelopment projects. Actual results relating to any and all of these subjectsmay differ materially from those presented. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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