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Atlatsa Resources Corporation (ATL)

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http://www.atlatsaresources.co.za/

 

Our assets

Atlatsa controls and operates the Bokoni Platinum Mines, located on the eastern limb of the Bushveld Complex, and maintains a controlling interest in the Ga-Phasha Project, located adjacent to Bokoni, and the Boikgantsho and Kwanda Projects.

Bokoni is an operating mine located on the north-eastern limb of the Bushveld Complex, to the north of and adjacent to the Ga- Phasha Project. The Bokoni property consists of seven mining licences covering an area of some 15,000 hectares. On May 12, 2008, the DME granted Bokoni conversion of their "old order" mining rights to "new order" mining rights.

Current mining rates are approximately 80,000 tonnes per month (tpm), at an average grade of 4.3g/t. This production is split between the Merensky and UG2 reefs at 50,000 and 30,000tpm respectively, and once processed, produces approximately 150,000 4E ounces per annum. Bokoni is the only eastern limb operation with significant Merensky production, high in platinum value with a 2:1 platinum:palladium ratio and has a high UG2 reserve grade of 5.36g/t 4E.

Previous technical studies conducted by Anglo Platinum indicated that Bokoni's maximum value is achieved at a mining rate of 375,000tpm, comprising steady-state Merensky Reef production at 120,000tpm and steady-state UG2 Reef production of 255,000tpm. The long-term growth plan for Bokoni is planned over two stages:

  • Stage 1 (2009-2014) comprises an expansion of Merensky and UG2 Reef ore production to 160,000tpm, with Merensky Reef production being increased to 120,000tpm (primarily from the Brakfontein Merensky Reef decline shaft system), and UG2 Reef production being maintained at 40,000tpm (from the Middelpunt Hill UG2 Reef decline shaft system).
  • Stage 2 (2016 onwards) contemplates further expansion of UG2 Reef production to 255,000tpm with Merensky Reef production remaining at 120,000tpm.

Both the Stage 1 and Stage 2 expansions at Bokoni are intended to access the Merensky and UG2 reefs from near surface to approximately 650m below surface. This presents a key technical and cost advantage, as there would be no need for significant refrigeration at these mining depths.

Atlatsa's plans for transforming Bokoni centre around creating a new business culture at the mine, reducing costs, increasing production, and implementing a diciplined approach to orebody management and grade control.

There is a significant opportunity for organic growth at Bokoni itself and by exploring synergies presented by the 26km continuous strike length between Bokoni and its neighbouring Ga-Phasha mineral property. Offtake agreements are in place with Anglo Platinum, and the company has an option to buy an interest in the Polokwane smelter complex.

 

 

Bokoni

Exploration projects






Atlatsa Resources Corporation engages in mining, exploring, and developing platinum group metals properties in the Bushveld Igneous Complex of South Africa. It holds a 51% interest in the Bokoni Mine covering an area of approximately 15,459.78 hectares and is located in the Sekhukhuneland district of the Limpopo Province; the Ga-Phasha project, which comprises 4 farms that cover an area of approximately 9,700 hectares and is located on the eastern limb of the BIC; and the Kwanda and Boikgantsho projects, which includes approximately 20 mineral properties covering an area of 37,492 hectares located near the town of Mokopane. The company was formerly known as Anooraq Resources Corporation and changed its name to Atlatsa Resources Corporation in May 2012. Atlatsa Resources Corporation was incorporated in 1983 and is headquartered in Sandton, South Africa. Atlatsa Resources Corporation is a subsidiary of Atlatsa Holdings Investments (Proprietary) Limited.

Atlatsa Resources Corporation
82 Grayston Drive
4th Floor
Sandton, 2146
South Africa - Map
Phone: 27 11 883 0831
Fax: 27 11 883 0863
Website: http://www.atlatsaresources.co.za/





Ga-Phasha

As a result of the completion of the Bokoni Transaction on 1 July 2009, Atlatsa effectively owns 51% of the Ga-Phasha Project.

Atlatsa and Anglo Platinum reviewed the mineral interest between April and October 2006. Several approaches were considered to optimize mining of the deposits at the Ga-Phasha Project. The review confirmed that the UG2 deposit would remain the primary focus for development, and the Merensky deposit warrants further study through additional drilling. Atlatsa intends advancing the Ga-Phasha prefeasibility study in 2010 to incorporate synergistic opportunities between the Ga-Phasha and the Bokoni mine.

Atlatsa is currently investigating opportunities to mine the Merensky Reef at Ga-Phasha using the adjacent Brakfontein infrastructure. Investigation thus far indicate encouraging results and the mining operation at the Bokoni mine may be extended through the Brakfontein haulages on 4 levels into the Klipfontein (one of the Ga-Phasha farms) lease area. Ga-Phasha lies immediately adjacent to and south of Bokoni's new Brakfontein shaft system.

The property has measured and indicated mineral resources of some 25.7Moz 4E and inferred mineral resources of 64.7Moz 4E. Studies are currently underway to assess potential synergies between Bokoni and Ga-Phasha.

Topographical map showing Bokoni and Ga-Phasha



Boikgantsho

Located on the northern limb of the Bushveld Complex, and adjacent to Anglo Platinum’s Mogalakwena Mine, this project was acquired through a land acquisition by Atlatsa in 2000 and a joint venture with Anglo Platinum in 2004. Historically, significant exploration drilling has been conducted at the project site which has led to the estimate of significant Mineral Resources in the indicated and inferred categories. Though the preliminary economic assessment was done in 2005; the results of this work showed that the project warrants further investigation. Atlatsa intends embarking on a pre-feasibility study with a view to increase the inherent value of the Boikgantsho Project. On completion of the pre-feasibility undertaken by the company, a decision will be made on the further development of the project.

Initial drilling has produced indicated mineral resources of 7.7Moz (3E), 230,000t of nickel and inferred resources of 4.1Moz 3E, 75,000t of nickel. A pre-feasibility study is underway, and initial assessments point to an open-pit operation with a 32-year life-of-mine at 400,000tpm with a low strip ratio of 1,7:1.


 

Kwanda

On May 16, 2002, Atlatsa completed an agreement with Rustenberg Platinum Mines (RPM) for the right to acquire up to an 80% interest in twelve PGM properties located on the northern limb of the Bushveld Complex. Under the agreements with RPM, Atlatsa acquired an initial 50% interest in the PGM rights to the twelve farms. These farms are collectively known as the Platreef Projects.

 

As of July 1, 2009, the joint venture agreements terminated and Kwanda Platinum Mine (Proprietary) Limited, a private company incorporated under the laws of South Africa, a wholly owned subsidiary of Bokoni Holdco, owns the respective interest in and assets relating to the Kwanda Project. As a result of the completion of the Bokoni Transaction, Atlatsa effectively owns 51% of the Kwanda Project (see group structure).

Atlatsa will continue with prospecting programs on the Kwanda Project and will also pursue opportunities to increase its knowledge base of the twelve properties originally earmarked for exploration, by information sharing with other parties conducting exploration activities in the area. A decision is expected to be taken in the medium term as to the strategic direction the company intends to embark on with regards to the Platreef Projects.


 

Reserves and Resources

 

  Merensky UG2 Total Total att
    Grade 4PGE   Grade 4E 4E 4E
  Mt g/t 4E oz Mt g/t 4E oz    
Bokoni ¹
Reserves             100% 51%
Proven 19.1 4.53 2.8 33.0 5.47 5.8 8.6 4.4
Probable 5.1 4.14 0.7 8.6 5.31 1.5 2.2 1.1
Total 24.2 4.45 3.5 41.6 5.47 7.3 10.8 5.5
Resources (excl reserves)
Measured 24.7 5.92 4.7 108.9 6.75 23.6 28.3 14.4
Indicated 29.0 5.73 5.3 73.9 6.82 16.2 21.5 10.9
Total measured and indicated 53.7 5.82 10.0 182.8 6.78 39.8 49.8 25.4
Inferred 92.0 5.55 16.4 131.3 6.78 28.6 45.0 22.9
                 
Ga-Phasha ²
Resources
Measured 8.4 4.32 1.2 24.9 6.50 5.2 6.4 3.2
Indicated 48.2 4.65 7.2 57.5 6.56 12.1 19.3 9.9
Total measured and indicated 56.6 4.61 8.4 82.3 6.54 17.3 25.7 13.1
Inferred 180.0 4.45 25.8 185.8 6.47 38.6 64.7 33.0

    Platreef     Total Total Total Total Total Total att
    Grade Ni Cu Ni Cu 3E 3E Ni Cu
  Mt g/t 4E % % 000t 000t oz oz 000t 000t
Boikgantsho ³
Resources         100% 100% 100% 51% 51% 51%
Measured                    
Indicated 176.4 1.35 0.13% 0.08% 230.3 141.1 7.7 3.9 117.0 72.0
Total measured and indicated 176.4 1.35 0.13% 0.08% 230.3 141.1 7.7 3.9 117.0 72.0
Inferred 104.0 1.23 0.14% 0.09% 145.6 93.6 4.1 2.1 74.3 47.7
 
Total Proforma
Total Reserves             10.86 5.7    
Total measured and indicated (incl reserves)             92.03 46.93 117.0 72.0
Total inferred resources             117.2 59.8 74.3 47.7
ATL
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ATL News: Atlatsa Completes Arrangement 09/18/2019 07:30:00 AM
ATL News: Arrangement Becomes Unconditional and Salient Dates for the Payment of the Share Cash-Out Consideration and Delisting of Atla... 08/27/2019 10:30:00 AM
ATL News: Atlatsa announces financial results for the quarter ended June 30, 2019 08/14/2019 11:00:00 AM
ATL News: Further Update on the Atlatsa Comprehensive Restructuring and Going Private Transaction 08/12/2019 11:00:00 AM
ATL News: Results of the Special Meeting and Update on the Atlatsa Comprehensive Restructuring and Going Private Transaction 08/02/2019 11:35:00 AM
PostSubject
#207   Halted around 10AM. willlbone 07/10/15 10:08:24 AM
#206   Nice dip. UpTickMeASAP 07/08/15 11:07:03 AM
#205   I like larger cap right now. USLV, or JohnCM 06/21/15 07:13:51 AM
#204   In your opinion which is the better of keyotee 06/11/15 01:33:02 PM
#203   How did I find Atlatsa? JohnCM 06/11/15 12:56:19 AM
#202   Anything worth while taking place here? keyotee 06/09/15 11:31:49 PM
#201   Atlatsa Resources (NYSEMKT:ATL): Q1 EPS of -$0.02. Revenue Timothy Smith 05/17/15 12:09:14 AM
#200   Possible bounce once its around .10 ! Hoover St stocks 05/11/15 02:03:27 PM
#199   ATL - Atlatsa Resources (.14) A platinum group the cork 04/19/15 09:50:04 PM
#198   Atlatsa Resources JohnCM 01/12/15 11:34:23 PM
#197   Sorry I meant platinum not gold ___Lux___ 01/12/15 10:53:12 PM
#196   As far as I can tell they mined ___Lux___ 01/12/15 10:50:36 PM
#195   What up? JohnCM 01/12/15 06:43:48 PM
#194   once ATL sells its 56k ounces of gold, ___Lux___ 01/12/15 10:06:25 AM
#193   http://www.reuters.com/article/2014/12/17/us-amplats-m-a-idUSKBN0JV19020141217?f Bman49ers 12/17/14 07:26:10 PM
#192   Unusual Volume (11/24/14) BDBDBDBD 12/03/14 03:23:14 PM
#191   179,300,000.00 revenue /514,000,000.00 shares outstanding = $0.349 book value! ___Lux___ 11/14/14 07:05:56 AM
#190   Upcoming events: 14 November-Results for the three months Meazy 09/08/14 10:35:30 AM
#189   Welcome Ms Boipelo Lekubo! Meazy 09/05/14 02:16:22 AM
#188   The company was formerly known as Anooraq Resources Meazy 08/14/14 02:35:16 PM
#187   This MD&A should be read in conjunction with Meazy 08/14/14 02:17:16 PM
#186   Atlatsa conference call on quarterly results Meazy 08/12/14 04:01:50 PM
#185   Seems like this company is has some bigger Meazy 08/06/14 03:04:54 PM
#184   Platinum on the rise. Check out these two Bman49ers 06/10/14 11:05:23 PM
#183   Atlatsa announces results for the quarter and year the cork 03/31/14 05:01:55 PM
#182   http://www.zacks.com/stock/news/120384/atlatsa-resources-corporation-saw-its-sha hotrod202 02/03/14 02:45:14 PM
#181   Good time for an entry here! the cork 01/13/14 04:10:41 PM
#180   I still think this is a nice sedate chklingon 01/12/14 08:53:38 AM
#179   Still monitoring this one. I have been off chklingon 12/20/13 09:33:50 AM
#178   Looking at this one again. How was the chklingon 11/25/13 02:03:16 PM
#177   ATL climbing MarketCap 11/15/13 12:09:08 AM
#176   Next fins will send ATL flying. MarketCap 11/06/13 05:11:18 PM
#175   So weird news, but no trades now? ??? Roo5guy 10/31/13 10:00:14 AM
#174   So do I. I'm keeping an eye on mattpate 10/30/13 03:06:11 PM
#173   I hope Roo5guy 10/30/13 02:54:21 PM
#172   Bout to pop mattpate 10/30/13 02:11:31 PM
#171   These approvals fulfill an important condition precedent for MarketCap 10/22/13 06:54:12 AM
#170   Because? chklingon 10/22/13 06:43:43 AM
#169   Significant move north coming soon. MarketCap 10/22/13 04:19:31 AM
#168   ATL moving along nicely. MarketCap 10/11/13 04:56:41 PM
#167   The trend north will continue ATL MarketCap 10/08/13 06:25:40 PM
#166   Wow, I set an order and did not chklingon 10/05/13 05:11:31 PM
#165   Shaft is back open, back to work. Lets chklingon 09/27/13 02:19:39 PM
#164   We'll be ok. The beauty of the restructuring MarketCap 09/24/13 10:36:09 AM
#163   The last two have been about two days chklingon 09/24/13 10:33:54 AM
#162   Yea, those are the pitfalls of mining. I MarketCap 09/24/13 10:21:34 AM
#161   Usually, production sets up again quickly. It would chklingon 09/24/13 10:18:36 AM
#160   Yea, it has hurt in the past as MarketCap 09/24/13 09:47:15 AM
#159   Maestro is correct though... there have been way chklingon 09/24/13 09:45:13 AM
#158   Those looking for a cheaper entry would disagree. MarketCap 09/24/13 09:10:30 AM
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