http://clients.westminster-digital.co.uk/minesite/microsite/events/50/video/index.aspx?companyId=50_1
=">http://www.proactiveinvestors.co.uk/pdf/brr.pdf
http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=39359&sn=Detail
www.braemoreresources.com
http://www.investegate.co.uk/Article.aspx?id=200711010702217873G



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http://www.proactiveinvestors.co.uk/articles/art.php?BRR2
cyril

http://www.miningmx.com/mybk08/772564.htm
cyril

I see this as very positive.

Dr Mathews Phosa appointed as Non-executive Chairman

Braemore Resources plc is pleased to announce the appointment to the Board of Directors ('the Board') of Dr

Mathews Phosa as Non-executive Chairman, with effect from the 2nd of October 2008. The outgoing Chairman, David Humann, will remain on the Board as a non-executive director.

The appointment comes as Braemore reaches a key milestone in establishing its 'mine-to-metals' strategy with the commissioning of its new 3.2 MW demonstration smelting facility. The commissioning of the new facility proves the scalability of the technology, as well as its ease of operation, while maintaining the exceptional efficiencies achieved to date. Braemore is now poised to accelerate the establishment of a fully- commercialised, independent smelting facility for the PGM industry and Dr Phosa's appointment is an important step towards realising the company's intention to establish independent, black-owned PGM processing facilities in South Africa..

Dr Phosa will bring a wealth of boardroom experience and will play a leading role in facilitating the black economic empowerment (BEE) partnership which Braemore is currently negotiating in terms of its South African PGM footprint. Braemore's association with Mintek, a leading South African government-funded research and development institution, and its exclusive access to the ConRoast process in part arise from the effects of the Minerals and Petroleum Resources Development Act (MPRDA) which has created access for junior companies to an industry previously dominated by a select few major mining houses.

'The transformation of the South African mining sector and the business development opportunities created by legislative changes have led to exciting prospects for established players and previously disadvantaged South Africans. I am delighted to be joining Braemore; in addition to the challenges of developing the nickel project in Australia, the chance to create a platinum operation in South Africa to benefit a broad base of stakeholders is an inspiring vision,' said Dr Phosa. 'This vehicle will allow us to create access for multiple junior companies to a process that benefits all South Africans and which commercialises South-African developed technology. Braemore's business strategy will support transformation through skills development in a sector currently experiencing skills shortages and will assist with job creation; this is true economic empowerment.'

An attorney by profession, Dr Phosa was one of the first four members of the African National Congress (ANC) to enter South Africa in 1990 from exile to start the process of negotiations with the then National Party Government. He subsequently served as Premier of Mpumalanga from 1994 to 1999 where he pioneered planning interaction between the private sector and government. He serves on the National Executive Committee of the ANC, is Treasurer General of the ANC and currently holds chairman, vice-chairman and board member duties for over 10 prominent companies, including Vuka Forrest Holdings Pty Ltd. University of South Africa, Value Logistics and Command Holdings. Dr Phosa plays a vital role in realising these companies' business strategies, particularly with regard to integrating previously-disadvantaged persons into the economic framework of South African businesses.

Leon Coetzer, Chief Executive Officer of Braemore, commented: 'Dr Phosa brings substantial knowledge and experience at a time when finding the right partner to take the Company forward is key. We believe his contribution to Braemore will be considerable.'

'On behalf of the Board, I should like to take this opportunity to thank David Humann for his considerable efforts in the past and his ongoing commitment to Braemore's success.'

- Ends -
cyril

Braemore takes another leap to smelting platinum
Braemore Resources says it has successfully put the Mintek ConRoast smelting technology to test. CEO Leon Coetzer talks about establishing its first 10MW smelter on the Bushveld.

Author: Tessa Kruger
Posted: Thursday , 02 Oct 2008

JOHANNESBURG -

Braemore Resources (AIM:BRR;JSE:BRE) took the next step to establishing the first UG2 platinum smelter using ConRoast technology on the South African Bushveld today, when it unveiled a 3.2MW "demonstration smelter" that will treat the platinum offtake of producing juniors at Mintek, a state-owned minerals research organisation, in the city.

Chief executive officer of Braemore Resources Leon Coetzer told Mineweb today the company planned to build its first 10MW UG2 smelter on the western limb of the Bushved from the first quarter of next year. It expected the smelter to treat 8,000t of ore per month; delivering 150,000PGM ounces a year.

Coetzer said the company had completed the testing of the Mintek ConRoast technology, which the company had an exclusive license to as the 3.2MW demonstration smelter located at Mintek in Randburg, Johannesburg would already treat 2 200t of ore a month. He said the recent upgrade of the smelter from about 1.5MW to 3.2MW demonstrated the scaleability of Braemore's undertaking, while the next leap to treating 8,000t of ore per month was not too large.

The demonstration project was fully industrialised and has already put the financial model to test, while it also smelted high-chrome concentrate on contract basis, similar to how the planned 10MW commercial smelter would operate.

Coetzer said the company's next step to becoming a midstream processor and then "mine to metals" company on the South African landscape that hosts 80% of the world's known platinum reserves was to put together a black economic empowerment (BEE) consortium that would participate a minimum of 50% on project level.

The company today announced the appointment of Dr. Matthews Phosa, a member of the ANC's National Executive Committee, as non-executive chairman of its board. It said in a statement Phosa would "play a leading role in facilitating the black economic partnership Braemore is currently negotiating in terms of its South African footprint".

The CEO told Mineweb its BEE consortium partner would also go some way to determine which juniors' or UG2 producer's concentrate would be treated in its UG2 smelter. Braemore has made a commitment to the market that it will announce its first offtake agreement or intent thereof, before the end of the year.

He said he was aware of the fact that a number of platinum juniors had plans to build UG2 smelters in the Bushveld igneous complex, but Braemore's view was that it was the only company with rights to the ConRoast technology that could treat UG2 ore with high chrome content. UG2 ore is increasingly being mined on the Bushveld complex.

The company would have the ability to treat concentrate ranging from high-chrome to low chrome content as its ovens were highly modular, said Coetzer. He said the company envisaged establishing 30MW smelting capacity in the industry over the next four years.

Braemore said its feasibility study covered a range of feedstock options and capital expenditure for the project would be finalised once the optimal feed source is determined in the last quarter of 2008.

MINEWEB is an interactive publication, with rolling deadlines through each day, commencing
cyril

So life goes on?

Relationship agreement update regarding major shareholder

Braemore Resources plc (JSE: BRE; AIM: BRR) announces that it has entered into an agreement to further regulate the relationship between the Company and its major shareholder, Atomaer Holdings Pty Ltd ('Atomaer'). The agreement removes the potential for competition between the two companies and allows Braemore the full benefit of a major shareholder who actively supports the Braemore business strategy.

Key highlights of the agreement include:

Braemore and Atomaer sign agreement to address potential areas of competition and agree in principal to resolve overhang of Performance Shares

Specified terms by which Braemore can acquire new nickel and PGM sulphide projects from Atomaer
Specified terms linking Atomaer's shareholding in Braemore to its representation on the Braemore board
Atomaer is the registered holder of 315 million ordinary shares, representing approximately 40% of the ordinary shares in issue, and 305 million performance shares of £0.001 each having the rights and restrictions set out in the articles of association of the Company (the 'Performance Shares'). Atomaer's contribution in the technological area of Braemore's development work has been significant, and a strong relationship has ensued. In the current economic climate, the support of a major shareholder has been crucial in Braemore's ability to continue with its stated business model.

According to Braemore's Chief Executive Officer, Leon Coetzer, 'The agreement clarifies the capital structure of the Company and the terms of conversion of the Performance Shares, providing greater certainty to all shareholders. It also provides Braemore with the benefit of a first right of refusal over the acquisition of any interests and/or rights to nickel and/or platinum sulphide projects acquired by an Atomaer Group Company on commercial terms. '

'Key to the agreement is that the performance shares are now linked to the Leinster Nickel Sulphide Tailings Project and that Braemore and Atomaer have agreed to negotiate in good faith the buyback of the Performance Shares; a reinforcement of the on-going positive relationship between the two companies.'

The key terms of the agreement are as follows:

The company will adopt the new articles of association, subject to regulatory and shareholder agreement.
The 305 million Performance Shares currently issued to Atomaer will only convert into ordinary shares upon Braemore entering into an agreement with BHP Billiton Nickel West Pty Limited for the exploitation of the Leinster Nickel Sulphide Tailings Project.
Braemore and Atomaer have agreed to negotiate in good faith the buyback of the Performance Shares on commercial terms to remove any perceived overhang on Braemore's ordinary shares (subject to regulatory and shareholder approval, if required) after completion of the order of magnitude economic evaluation and engineering scoping studies as agreed to with BHP Billiton, expected to be completed by early November 2008.
Braemore will have a first right of refusal to acquire interests and rights in each new Nickel and/or Platinum Sulphide Project acquired by any Atomaer Group Company on commercial terms for as long as Atomaer is the registered holder of 30% or more of the issued ordinary shares of Braemore. This replaces the Nickel Rights under the Share Sale Agreement dated 9 May 2005 and entered into between Atomaer, Braemore and Braemore Nickel Pty Limited, which have been cancelled. In addition, Braemore is to reimburse Atomaer for all costs incurred by Atomaer, up to a maximum of A$300,000, in performing its obligations to Braemore in the identification, investigation, evaluation, acquisition and offering of rights to Pan Palladium Limited's Grass Valley Project.
For as long as Atomaer is registered holder of 30% or more of the issued ordinary shares in the Company it will be entitled to appoint two directors to the board of directors of Braemore. In order to ensure good corporate governance, it has been agreed, amongst others, that a committee of directors of the Company who are not directors of Atomaer be formed to take decisions relating to matters involving an Atomaer Group Company.
Project management functions previously performed by Atomaer will be transferred to a Braemore Group Company.
Atomaer has agreed to a restriction on competition with any Braemore Group Company with respect to the smelting or refining of nickel and platinum group metals. Further details of this restriction are set out in the Relationship Agreement.
ENDS
cyril

Cyril is this good news or bad,as the market this morning sent it down but has recover at the moment.?

ULB i see this as positive in so much as we have a thumbs up from our major
investor.
cyril

This is not good news.

mitsy, could you give your reasons for thinking so please?
cyril

Its to do with the 305m performance shares which will convert to ordinary shares upon BRR entering into agreement with BHP would this lead to more share dilution for BRR shareholders..I cant see how this would be good for shareholders.

Mitzy Below is the explaination from the Proactive writer.
cyril

The Atomaer Performance shares are one of the least confusing things about Braemore, IMO!

They were issued as part of the WCN purchase agreement in 2005, and are effectively the second half of a "half now, half on delivery" arrangement.

They convert to Ordinary Shares "on delivery" - i.e. when Leinster gets the green light. No fee is payable by Atomaer because they are effectively the second half of the purchase price of the Leinster project.

What could be simpler?

Ok cyril I get it now.

20% down for no reason this is a scary share.

Short selling stopped for all shares!!!!!

Looks like the end of iii, moneyam, advfn, lse.

Mitzy shares are scary at this moment?
cyril
p.s. even the good ones

BuGG**!, misread the news, looks like only Greece has banned short selling..doh!

up 30% well done cyril.

30% of FA is still FA, and knowing this stock, spread is prob over-wide too

Mitzy most shares rose today and hopefully over a period of time the market will
recover some composure,so come 2011 the real value of this company will be realised. However its worth remembering that some serious sums of money will be
required before we reach a successful outcome for both projects and at present, fund raising is out of fashion.
cyril

Credit crunch affecting all shares cyril.

A new article that may be of interest to holders,
click HERE