SABLE EXPLORATION AND MINING LIMITED - Additional funding for the Dense Medium Separation beneficiation plant

Additional funding for the Dense Medium Separation beneficiation plant

Sable Exploration and Mining Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/006539/06)
(Share Code: SXM ISIN Code: ZAE000303319)
("SEAM" or "the company")


Additional funding for the Dense Medium Separation beneficiation plant

Shareholders are referred to the announcement dated 1 September 2023 regarding Sable
Platinum Holdings (Pty) Limited ("SPH"), a wholly owned subsidiary of SEAM entering into an
agreement on 31 August 2023 with IPace (Pty) Limited ("IPace")("Main agreement"), for the
establishment of an unincorporated joint venture to conduct the business of commissioning,
operating and maintaining of a Dense Medium Separation ("DMS") beneficiation plant and to sell
the product ("UJV").
Shareholders are advised that SPH and IPace have entered into a term sheet on 2 February 2024
for additional funding of R1 million payable by SPH for the DMS beneficiation plant. This additional
funding will be added to the R15 million paid by SPH in terms of the Main agreement.
For providing the additional funding, IPace has agreed to transfer 2.5% of the UJV to SPH. SPH
has granted IPace an option to buy back the 2.5% shares in the UJV at R1.3 million which expires
on 31 October 2024.
IPace has committed to fund the balance of the operational and capital costs to complete the
DMS beneficiation plant and to commence production on 15 March 2024.

This announcement is a voluntary announcement.



6 February 2024
Sandton


Sponsors
Exchange Sponsors

Date: 06-02-2024 08:30:00
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