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24 Mar 2011 13:30
24 March 2011
Strategic Natural Resources PLC
("SNR" or the "Company")
Statement re contract
The board of SNR notes the statement made in South Africa yesterday in the Province of the Eastern Cape Economic Development and Environmental Affairs Policy Statement made by the Honourable Mcebisi Jonas (MEC for Economic Development and Environmental Affairs), in which reference was made (in clause 4.10.4.4.1) to SNR's 74 per cent. owned subsidiary, Elitheni Coal (Pty) Limited, having entered into a contract with a 3rd party for the sale of 1m tonnes of coal.
The board of SNR wishes to clarify that at this time it has not entered into any such contract but, as previously announced, the Company is currently engaged in advanced discussions with interested parties in connection with an off take agreement and the Company will make further announcements in connection with this upon completion of these discussions.
For further information, please contact:
Strategic Natural Resources plc David Nel, Chief Executive Officer Jeremy Metcalfe, Communications Director |
+27 (0) 41 374 0842 +44 (0)7785 346 718 |
Nominated Adviser and Joint Broker - Allenby Capital Limited Nick Naylor / Alex Price / James Reeve |
+44 (0) 20 3328 5656 |
Evolution Securities Rob Collins / Chris Sim |
+44 207 071 4300 |
Joint Broker - SP Angel Corporate Finance Limited Emin Eyi / Tercel Moore |
+44 (0) 207 647 9646 |
Financial Dynamics Billy Clegg / Oliver Winters | +44 (0)207 831 3113 +44 (0)77 0332 9024 |
For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk
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