Johannesburg - Chrometco, a chrome explorer, is
repositioning itself to move into platinum group metals (PGM), the company said
"We would certainly not rule out mergers and joint
ventures, or disposal for that matter; everything is for sale at the right
price," said managing director Petrus Cilliers.
The company has a single asset - the Rooderand chrome mine.
It said it was poised to acquire from Nkwe Platinum Limited
(Nkwe), in an all-share transaction, the platinum group metal rights to the
Rooderand asset, complete with exploration data.
"This, with the addition of PGMs from the proposed Nkwe
acquisition, has the potential to increase Rooderand's current valuation of
R186m to R370m."
He said in a South African exploration context, the company
believed it was uniquely and attractively well placed.
"We have some leeway to weather the current economic
downturn - no heroics, no drama - all the while keeping our eye open for
attractive opportunities and preparing ourselves for the upswing."