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6 Feb 2012 11:10
6 February 2012
Strategic Natural Resources Plc
("SNR" or the "Company")
Statement regarding IDC
The Board of SNR notes the recent statement made by the CEO of the Industrial Development Corporation of South Africa (the "IDC") at the weekend confirming that the IDC would be funding the development of the Company's 74 per cent. owned subsidiary, Elitheni Coal (Pty) Limited and provides the following update.
SNR confirms that, whilst it is in discussions with the IDC, these discussions remain on-going and form part of SNR's wider discussions with other parties in relation to finalising its funding needs.
Further announcements will be made at the appropriate time.
For further information, please contact: | |
Strategic Natural Resources plc | |
David Nel, Chief Executive Officer | +27 (0) 41 374 0842 |
Jeremy Metcalfe, Communications Director | +44 (0)7785 346 718 |
Allenby Capital Limited - Nominated Adviser and Joint Broker | |
Nick Naylor/Alex Price/ James Reeve | +44 (0) 20 3328 5656 |
SP Angel Corporate Finance Limited - Joint Broker | |
Emin Eyi/Tercel Moore | +44 (0) 20 7647 9646 |
FTI Consulting | +44 (0) 20 7831 3113 |
Ben Brewerton / Chris Welsh |
For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk
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