CZA Coal of Africa

 

TIDMSNRP TIDMCZA 
 
RNS Number : 3454C 
Strategic Natural Resources PLC 
11 November 2009 
 

11 November 2009 
 
 
Strategic Natural Resources PLC (AIM: SNRP) 
 
 
Shareholdings and Directors' dealings 
 
 
Strategic Natural Resources PLC ("SNR" or the "Company") announces that 
following its recent successful placing of 6.5 million of new ordinary shares 
for cash (the "Placing"), the Board of SNR has been made aware on 10 November 
2009  that Coal of Africa Limited ("CoAL") has, subsequent to the 3.5 million 
new ordinary shares acquired pursuant to the Placing, purchased a further 
7,760,000 ordinary shares on 08 November 2009 taking its total shareholding in 
SNR to 11,260,000 shares, being 15.03 per cent of the Company's issued share 
capital.  In recognition of the significant advantages that the involvement of 
CoAL is expected to bring to SNR, the Company has been informed that as part of 
this transaction, Southern Cape Corridor Power (Pty) Limited ("SCCP"), a South 
African Company 78.5 per cent of which is owned by Southern Cape Corridor Trust 
in which David Nel and Barry Nel, both directors of SNR are a beneficiary and a 
trustee respectively, has sold 3,400,000 shares in SNR at 10p per share. SCCP's 
interest in SNR is now 18.82 per cent. 
 
 
The Board of SNR is very pleased with this significant new investment in the 
Company and looks forward to future collaborations with CoAL with a view to 
initiating exports of coal from SNR's Elitheni Mine at Indwe in the Eastern Cape 
of South Africa. 
 
 
The two companies will also be co-ordinating engineering efforts on the 
development of generic smaller mine mouth independent power projects, such as 
the one being developed at Elitheni at Indwe by IPSA Group PLC (AIM: IPSA). 
 
 
The Board of SNR is convinced that the future of electricity network expansion 
in South Africa is linked to the production of new coal reserves tied to 
independent power producers and that SNR is well positioned to use its coal for 
new power plants. It therefore welcomes assistance it may receive from CoAL in 
accelerating its production plans at Elitheni and exploring other areas of 
co-operation. 
 
 
Jeremy Metcalfe, CEO of SNR said: "We're delighted that CoAL has decided to 
acquire its significant stake in SNR. We continue to have strong shareholder 
support and remain confident in our ability to build on our existing success. 
We hope that going forward we can work together in accelerating production at 
Elitheni." 
 
 
For further information contact: 
 
 
The Company: 
Jeremy Metcalfe, Chief Executive Officer 
Strategic Natural Resources PLC 
Tel: +44 (0)1303 874 798 
 
David Nel, Chief Operations Officer 
Strategic Natural Resources PLC 
Tel: + 27 41 374 0842 
 
 
Nominated Adviser: 
Rod Venables/James Reeve 
Allenby Capital Limited 
Tel: +44 (0)20 3328 5656 
 
 
Broker: 
Nicholas Malins-Smith/James Wood 
Religare Hichens, Harrison plc 
Tel: +44 (0)20 7444 0508 
 
 
Public Relations: 
Ana Ribeiro/ Tim Blythe 
Blythe Weigh Communications 
Tel: +44 (0) 20 7138 3206 / +44 (0) 20 7138 3205 
 
 
Notes to Editors 
 
 
About CoAL: 
Coal of Africa Limited ("CoAL") is an AIM/ASX/JSE listed coal mining and 
development company operating in South Africa.  CoAL has three key projects 
including the 113 million tonne ('mt') Mooiplaats thermal coal mine, the 656 mt 
Vele coking coal project and the 1.3 bn tonne Makhado coking coal project 
(including the Rio farm swap). 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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