Anooraq Resources Corp. (ANO)

[MWM]

Holding above that last high of $1.45 is a good sign...

[SEF]

I've, also, read they just completed a project to increase their processing capabilities.

[MWM]

Added more ANO here

[MWM]

ANO volume is looking great early!

[MWM]

ANO starting to gap above $1.50

[bjnb]

I was curious about the recent increase in volume and price. So, I was doing some digging to find out why the recent interest.

First, I ran across flyonthewall.com. stating: Anooraq Resources management to meet with RBC Capital...I am not a subscriber to flyonthewall.com, so I cannot get the whole article.

This made me want to dig deeper for the Anooraq resource and RBC Capital. I ran across an article in IM International Mining: http://www.im-mining.com/2009/10/14/senior-executives-from-industry-leading-companies-meet-in-london-to-discuss-the-future-for-platinum/

An excerpt: Posted on October 14th, 2009
Industry-leading companies meet in London to discuss the future for platinum

Opening the RBC Capital Markets’ second annual Platinum Group Metals (PGM) Conference at Grosvenor House in London yesterday, Leon Esterhuizen, Director and Equity Analyst at RBC Capital Markets said: “Almost three quarters of the world’s platinum supply and about half of the world’s palladium supply comes from South Africa but, given the current strength of the rand, which is effectively neutralising much of the recent US dollar metal price increases, over half South Africa’s supply is generating negative cash flow (after capital expenditure). On the premise that demand may be lower, but will not contract any further, this implies only one of two possible outcomes - either metal prices will have to increase even further or mine production will be cut, pushing prices higher as supply contracts.“Higher metal prices seem likely, but so do higher costs - effectively leaving only two areas of potential investment: ETFs of both platinum and palladium should continue doing well, and new junior producers will be able to supply metal at low cost, reaping the most benefit from a rising metal price. Not only do we believe the low-cost juniors and low-cost projects will benefit, but it should be clear that these also represent excellent takeout targets for majors struggling with high costs.”

Is it possible that a major is beginning to takeout Anooraq Resources?

[MWM]

chart

[MWM]

Somebody must know something that is almost record volume...

[MWM]

I'm in, she is flyin!

[goldisking3000]

Presentations

http://www.anooraqresources.com/im/presentations.asp

[trade2much]

WOW nice move! another 10%

[trade2much]

Cooler Construction proceeds on schedules via today's update. Good news.

[trade2much]

Ano what a great day for Ano. Now to keep it up.

[goldisking3000]

SA platinum supply to rise 5% in 09, boosted by stockpile sales - Johnson Matthey

http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=93222&sn=Detail

[goldisking3000]

PGMs, silver and gold should all trade higher in 2010 - Scotia Mocatta

http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=91221&sn=Detail

[goldisking3000]

Metals & Mining Analysts' Ratings & Estimates - Juniors

http://www.kitco.com/ind/matlack/nov172009_junior.html

[goldisking3000]

Looking good...

PLATINUM $1457.00

Palladium $370.00

Rhodium $2,600.00

[goforthebet]

Anooraq to produce 270 000 oz/y by 2014

By: Esmarie Swanepoel
17th November 2009

JOHANNESBURG (miningweekly.com) – Platinum junior Anooraq Resources’ growth projects were on track to deliver 270 000 platinum group metal (PGM) ounces by 2014, president and CEO Philip Kotze said this week.

Kotze said that the size and scale of the recently acquired Bokoni orebody, along with its attractive grades and well-developed mine and support infrastructure, provided the company with a number of opportunities to increase production at shallow mining depths.

“The new Brakfontein mine on the Merensky Reef at Bokoni presents a significant ramp-up operation, and will play a key role in achieving our phase 1 growth milestone of 270 000 oz PGM by 2014.”

During the quarter ended September, Anooraq acquired an effective 51% holding in the Bokoni platinum mine, and a further 1% controlling interest in the Boikgantsho, Ga-Phasha, and Kwanda projects, for C$385-million.

As a result, Anooraq has emerged as a PGM-producing company controlling the third-largest PGM resource base in South Africa.

“Our focus at Bokoni is on both optimising the existing mine operations and developing new mines at Brakfontein and Middelpunt Hill, ensuring that Bokoni becomes a new-generation PGM producer with significant growth prospects,” said Kotze.

Another key part of Anooraq’s initial work at Bokoni has been to affect a cultural turn-around at the operation, Kotze said. A new management team has been appointed which has developed a production ramp-up plan, implemented disciplined operating cost controls and completed a review of capital costs.

“We are encouraged by the early gains achieved at the operations, which have resulted in a real decrease in unit costs, rationalisation of capital expenditures and identification of potential new sources of lower-cost ounces, such as those presented by the vamping opportunities at the Vertical and Middelpunt Hill shafts.”

Although much work remained to be done to fully embed the new culture of delivery, accountability and empowerment at Bokoni, Kotze noted that the company had made a good start in its first operating quarter.

Mill production at Bokoni was recorded at around 254 399 t, 15% higher when compared with the average quarterly performance for the first half year, mainly because of a 15% increase in tons broken.

This increase was largely owing to a more disciplined approach to the mining effort through new mine management initiatives.

A PGM head grade of 4,19 g/t was achieved for the quarter, and grade control was a key area of focus going forward, Anooraq stated.

Concentrator plant recoveries PGM, at 92% for Merensky and 89% for UG2, remained among the highest in the PGM industry. As the tons mined and milled increased, metal production, when compared to the first half year, also gained momentum.

Kotze noted that opportunities have been identified to add low-cost tons from vamping at Vertical and Middelpunt Hill shafts. It was estimated that production from vamping could be effected at about 30% of current unit operating costs.

Total development for the quarter was 2 374 m and on reef development was 1 253 m. During the quarter more focus was placed on redevelopment and sub-development in order to ensure increased immediately available reserves for mining.

Bokoni Mines remained in a high capital expenditure growth phase, as its production rates were being doubled over the next three years through the ramp-up of the new Brakfontein Merensky mine.

Capital expenditure for the quarter ended September was C$10,4-million, consisting of 23% sustaining capital and 77% project capital. Major project capital expenditures for the period relate directly to the Brakfontein mine build-up.

Anooraq stated that the Brakfontein mine decline shaft system continued to be developed and the mine currently produced at a rate of 11 000 t/m, building up towards its planned steady state production of 120 000 t/m by 2014.

During the quarter, a thorough review of planned capital expenditures was undertaken. Budgeted capital expenditures were reduced without compromising the planned production build-up.

Edited by: Mariaan Webb

[RonnieD]

with gold reaching new all-time highs, it's overperforming platinum. i expect platinum and palladium to pick up soon.

getting some ANO today.
http://www.anooraqresources.com/

[PENNYPRINCE 1]

I hope to get some next week.

[mark27]

u bet em

[mark27]

u bet em

[Happycoins]

I agree Mark this is a huge deal and is taken more time to process and finalize then originally anticipated.
This is a great opportunity to load up as inpatient share holders move on to fast plays.

[mark27]

Will be well worth the wait,A couple of bucks soon IMO

[mark27]

June 20 deadline now for the Lebowa transaction,thats ok by me Shareholders are also referred to the news releases dated October 2, 2008, November 14, 2008 and December 12, 2008, January 28, 2009 and March 11, 2009 relating to the Transaction. The parties remain committed to concluding the Transaction and have therefore agreed to extend the date for fulfillment of the suspensive conditions until June 30, 2009.

[Happycoins]

Anooraq Provides Update on the Empowerment Transaction with Anglo Platinum

* On Tuesday April 28, 2009, 8:30 am EDT





* Anooraq Resources Corporation

VANCOUVER, April 28 /PRNewswire-FirstCall/ - Anooraq Resources Corporation ("Anooraq" or the "Company") (TSXV:ARQ; NYSE Amex:ANO; JSE:ARQ) announces that discussions between Anglo American plc (the majority shareholder of Anglo Platinum Limited "Anglo Platinum"), Anglo Platinum, Anooraq and Pelawan Investments (Pty) Limited (the majority shareholder of Anooraq) ("the Parties") regarding the purchase by Anooraq from Anglo Platinum of an effective 51% of the Lebowa Platinum Mine ("Lebowa") and an additional 1% controlling interest in each of the Ga-Phasha, Boikgantsho and Kwanda joint venture projects ("the Transaction"), as well as its associated financing strategy, are progressing well and are expected to be concluded shortly.
Related Quotes
Symbol Price Change
ANO 0.88 -0.07
Chart for ANOORAQ RESOURCES
{"s" : "ano","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Shareholders are also referred to the news releases dated October 2, 2008, November 14, 2008 and December 12, 2008, January 28, 2009 and March 11, 2009 relating to the Transaction. The parties remain committed to concluding the Transaction and have therefore agreed to extend the date for fulfillment of the suspensive conditions until June 30, 2009.

In addition, Anooraq has renewed its mandate with Standard Chartered Bank ("SCB") to provide a portion of the financing required for implementation of the Transaction. The SCB facility being contemplated is a senior debt term facility in an amount of ZAR750 million.

Shareholders are further advised that an update to the April 2008 technical report on Lebowa, as referred to in the cautionary announcement dated March 11, 2009 and which is being prepared in compliance with National Instrument 43-101, is nearing completion and will be filed on www.sedar.com shortly.

[mark27]

all good! em

[Happycoins]

A little info on Anoorag

LEBOWA TRANSACTION
Anooraq claims platinum mining advantage

Anooraq Resources says it is taking an easy road to becoming a significant PGM producer as it is taking control of existing Anglo Plats projects in South Africa.
Author: Tessa Kruger


JOHANNESBURG -

Anooraq Resources (JSE:ARQ, TSXV:ARQ) believes the junior explorer-developer about to become producer will benefit from taking control of Anglo Platinum's "live" PGM projects under the Lebowa transaction compared to new mining projects that face various challenges in the current global mining environment.

Anooraq Resources head of business development Joel Kesler said today the company would "step into" the existing projects with two major expansion plans for Lebowa in place as opposed to initiating new projects and taking them through the different development phases. Lebowa is located on the north-eastern limb of the Bushveld.

Anglo Platinum announced in September last year it would sell 51% of Lebowa Platinum Mines, currently 100% owned by Anglo Platinum, and an additional 51% interest in Anglo Platinum's Ga-Phasha, Boikgantsho and Kwanda PGM exploration projects exploration projects located on the Bushveld complex in South Africa.

Companies currently undertaking new platinum projects had to contend with difficulties such as capital cost increases, long lead times on equipment and other constraints such as limited power supply in South Africa.

Kesler said Anooraq would be completely transformed from junior-explorer to fully integrated developer when the Lebowa transaction was completed in a few months. He hoped the market would recognise the full value of this development in time.

The company announced today that its PGM reserve had increased by 7.7% to 11.2m ounces of 4E (platinum, palladium, rhodium and gold) after a technical review was completed. It is expected that the company will have the third largest PGM resource base in South Africa.

The expansion plans for Lebowa involved increasing Merensky ore production from about 85,000t per month to 120,000t per month and UG2 from 45,000t to 125,000t per month between 2008 to 2013. In the second expansion phase, spanning 2016 to 2020, UG2 production will be lifted further to 255,000t per month.

In terms of ounces, the first expansion phase will lift Lebowa's PGM production to 438,000 ounces per year and the second to 570,000 ounces annually. About half of PGM production would amount to platinum ounces. Lebowa's production in 2007 was about 187,700 ounces of 4E.

Kesler said power arrangements for the expansion projects were in place and the supply allocations from Eskom were not in danger at this stage. In addition, the company was keeping a close eye on power supply and working on power efficiencies.

Anooraq believed it scored the September announced deal with Anglo Platinum on the grounds that it had demonstrated serious intent to become a Black Economic Empowerment producer.

He said the company's intent was to build an organisation that would become a significant PGM producer and not to set it up for takeover, although anything could take place.

The Lebowa transaction positioned Anooraq Resources to become a mine-to-market company as it gave it the option to take an interest in Anglo Plats' Polokwane smelter.

"In addition, Anglo Platinum has retained a strategic minority stake of 49% in Lebowa. "Anooraq will control the mine, but Anglo Platinum will lend its support on every level, especially in the first year of majority ownership."

Kesler said the market would go its own course but the company certainly hoped it would be rerated as a producer. Anooraq's enterprise value per resource ounce was significantly lower as than that of other producers and this could point to potential for uplift in its valuation.

The cash acquisition price for the Lebowa transaction was R3.6bn ($467m).

Anooraq intended to fund the purchase price through a combination of debt and

equity.

[mark27]

ANO go baby go

[Happycoins]

Intense discussions regarding the purchase by Anooraq from Anglo Platinum are progressing well and they remain committed to closing the Transaction by 30 April!!
9 Days to go and could happen anytime!!!!!!
Hold tight to those shares!

[mark27]

Another solid day L&S here.em GLTY

[mark27]

And an Interest bearing faclity,,,:)

[Happycoins]

Yes Mark there has been steady accumulation over the past 2 weeks.
Anglo Platinum, Anooraq and Pelawan Investments (the majority shareholder of Anooraq)have been in intense
discussions regarding the purchase by Anooraq from Anglo Platinum they are progressing well remain committed to closing the Transaction by 30 April 2009.
So being so close to the closeing date of this month that would explain the sudden increase in volume and share price.

When everything is announced and finalized. We should easily be trading over the $3.00 mark and that is being conservitive.

They are ready to start production once every thing is finalized.

Hold on and get ready for a nice ride.

GLTA!!

[mark27]

Date Open High Low Close Volume Adj
Close
2009/04/17 0.99 1.02 0.91 0.92 271,044 0.92
2009/04/16 1.02 1.02 0.95 0.99 314,130 0.99
2009/04/15 0.95 1.05 0.92 1.00 521,400 1.00

[mark27]

Oh I am,Some profit taking is all(VERY LITTLE) Friday.Would like to get some news soon .I see steady accumilation,IMO
word is getting out, and should hit some Scans with some nice Volume.
All in from .69 here. GLTY

[Happycoins]

Seems no one is enjoying the party !!
As soon as investors realize the potential and the size of the deal that is being worked out.
Anooraq will be hitting new highs and investors will be forced to pay a big premium from todays stock price ;)

[Happycoins]

Great pic Ronnie !!
Nice volume for this stock in early trading and bids are building.
GLTA!!!

[RonnieD]

AngloPlatinum is selling 51% of Lebowa and partnering with Anooraq (see how they have loaned them $) only because they have to comply with the new laws in South Africa.
It's a good thing, natives should have ownership in their own country's mineral wealth. Good for Anooraq and it's shareholders, a sweetheart deal.

Angloplat announced plans to sell control of Lebowa for 3.6 billion rand ($363.9 million) and the other stakes in September 2007 as part of a wider move to comply with black economic empowerment laws in South Africa aimed at redressing the company's apartheid past.

[mark27]

very good Balance sheet also em

[Happycoins]

I really do not think there are many shares available . Up .10 on just 200k of shares and no profit takers mostly all buys today.
Looks like the end of this month will be good for everyone.
GLTA !!!!

[Happycoins]

Anooraq Says Still In Talks With Angloplat Over Assets Buy

JOHANNESBURG -(Dow Jones)- Anooraq Resources Corp. (ANO) Wednesday said it continues to discuss the acquisition of assets from Anglo Platinum Ltd. (AMS.JO) and associated financing.

Anooraq, incorporated in British Columbia but focused on South Africa, said it remains engaged in talks with the Johannesburg-based platinum producer over a 51% interest in the Lebowa platinum mine and additional 1% controlling interests in the equally-owned Ga-Phasa, Boikgantsho and Kwanda joint venture projects.

"The parties' discussions are progressing well and they remain committed to closing the transaction by April 30," Anooraq said.

Angloplat announced plans to sell control of Lebowa for 3.6 billion rand ($363.9 million) and the other stakes in September 2007 as part of a wider move to comply with black economic empowerment laws in South Africa aimed at redressing the company's apartheid past.

[Happycoins]

6k Just came out tonight.

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6534896

[RonnieD]

probably going back to dollars.
pure platinum plays are hard to find, especially partnered with the industry leaders like this one, and unshakable native support. South African ceo is black.

[mark27]

in Here,,,,the "Lebowa" transaction should be soon per there last PR GLTA

[Happycoins]

I agree Ronnie I jumped in for 2K in shares !!!

[RonnieD]

platinum group metals are hotter than gold and silver now because of their industrial uses.
paying close attention here

[Stockpyle]

Looks like we have consolidated at this level we will see how long before we move up again.

[Stockpyle]

So far a very nice start for the year

[RonnieD]

burning up the track today

[Stockpyle]

Yes I am in and will add as dips occur.