Fin24

Successful reverse listing for Sable

2012-11-23 13:26

Johannesburg - New Corpcapital (NCA) began trading on the Platinum and Precious Metals sector of the JSE’s Main Board on Friday following the successful reverse-listing of Sable Platinum into the company.

The name change to Sable Platinum Limited will take place once the special resolution approved by shareholders has been registered.

James Allan‚ a mining engineer and entrepreneur who has been involved in the mining and financial services industries for 29 years‚ has been appointed CEO of Sable Platinum. He says that the company has a positive view on the medium to long-term prospects for platinum and for its growth.

“The Competent Persons Report on Sable Platinum shows a target resource of between 42 million ounces and 70 million ounces of 4E (platinum‚ palladium‚ rhodium and gold)‚” he says.

“The reverse listing will provide Sable with a platform to raise additional capital for its exploration programme. Where projects are found to be viable‚ Sable Platinum will be in a better position to bring them to the Bankable Feasibility Study stage in addition to continuing to acquire and develop a portfolio of precious metals mining assets‚” says Allan.

Sable Platinum is the holding company of Sable Platinum Mining and Roan Platinum.