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February 19, 2009
Platinum BEE Mvela outlines plan to unlock R2bn
JOHANNESBURG (miningweeklycom) - JSE-listed platinum empowerment company Mvela Resources on Thursday outlined a plan to unlock some R2-billion for shareholders that it said was "locked-up" in its structure.
Mvelaphanda Resources executive manager: commercial James Wellsted told Mining Weekly Online that the company would, at the same time, put an end the large 34% discount at which its shares were trading; satisfy JSE listings requirements; rerate Northam Platinum by recapitalising the Booysendal platinum project; and ultimately itself possibly delist, well into 2010.
Posted by StaffWriter at February 19, 2009 4:23 PM