Anooraq Resources has released its end of year results and announced that production at its Lebowa Operations returned 187,000 oz of platinum, palladium, rhodium and gold during 2007.

The Lebowa project is located on the north-eastern limb of the Bushveld Complex and the area has also been approved for two major replacement and expansion projects.

Production of the first new project - the Brakfontein Merensky project - is expected by the middle of 2008.

Meanwhile Anooraq Resources' Ga-Phasha project has seen over 100 drill holes completed since 2004 and Anglo Platinum has re-assessed its mineral assets.

The highlight of 2007 was the transaction agreement between Anooraq Resources and Anglo Platinum which saw Anooraq Resources gain a 51 per cent controlling interest in Lebowa Platinum Mines.

Anooraq Resources will also increase its interest in the advanced exploration Ga-Phasha and Boikgantsho project to 51 per cent.

"These transactions will transform Anooraq into a significant independent PGM producer controlling the third largest PGM resource in South Africa," said Popo Molefe, Chairman of the firm.

Source:

Anooraq Provides Project Updates and Announces Year End Filing, 01/04/08
http://www.marketwire.com/mw/release.do?id=838615&sourceType=3

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