Nkwe Platinum is planning to dual list on the Hong Kong stock exchange as part of a strategy to boost its presence in the South African pgm industry.

The company confirmed today (27th May) that it will register in the fourth quarter of 2010, in addition to its intended listing on the Johannesburg stock exchange.

As part of the move, Nkwe has also finalised a successful placement with Australian investors which could add A$10 million (£5.77 million) to its coffers.

The money would be used to fund drilling programmes and bankable feasibility studies (BFS) on the Tubatse site, where it is currently carrying out exploration.

Nkwe is also looking to press ahead with its Garatau project after completing a BFS, with an overall aim of creating two mines with output of over 700,000 oz pgm per year.

The Garatau/Tubatse property has a strike length of over 30km and Nkwe purchased a key 15 per cent stake in the project from International Goldfields in June 2009.

Source:

Nkwe Platinum to list in Hong Kong before year-end (27/05/10)

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