RNS Number : 3276G
Platinum Australia Limited
29 January 2010
AIM Release
29 January 2010
SMOKEY HILLS POWER INTERRUPTION
The main control panel of the generators at Smokey Hills Platinum Mine suffered significant damage as the result of a direct lightning strike on Tuesday 26th January. As a result Platinum Australia Limited (ASX:PLA) (AIM:PLAA) expects the milling and flotation sections of the plant at Smokey Hills to be down for approximately three to four days until site generated power is restored. The mine and crushing section of the plant are currently operating on power from the Eskom grid and are therefore unaffected by the stoppage.
The Company anticipates that the stoppage will result in a loss of production of approximately 1,000 ozs of 4E PGM.
Power from the Eskom grid currently provides approximately 50% of the power requirements of the operation through a temporary facility, with the balance, primarily for the processing plant, provided by the on-site generator plant. The permanent connection from the Eskom grid is currently under construction and is expected to be completed in March or April 2010. The on site generator plant will remain installed at site following the completion of the permanent Eskom connection to provide back up power.
PLATINUM AUSTRALIA LIMITED
JOHN D LEWINS
Managing Director
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John Lewins
Managing Director Platinum Australia
+61 08 9324 1491
M: 0419 910 061
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Media enquiries UK:
Ron Marshman &
John Greenhalgh
City of London PR
+44 020 7628 5518
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Media enquiries AUS:
John Lewins
+61 8 9324 1491
M: +61 419 910 061
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AIM Nominated Advisor:
Ambrian Partners Limited
+44 207 634 4700
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UK Broker:
RBC Capital Markets
+44 207 653 4000
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Glossary
4E PGM - Platinum + Palladium + Rhodium + Gold
UG2 Reef - Upper Group 2 Reef
This information is provided by RNS
The company news service from the London Stock Exchange
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