[SMM Precious Metals Express]

Mantengu announced it has concluded negotiations with Afresources Mining to divest its 70% equity stake in Blue Ridge Platinum and associated shareholder loans for a cash consideration of ZAR 35 million. The transaction remains subject to multiple conditions precedent and regulatory approvals.

In addition, Blue Ridge Platinum has entered into a 10-year sales and contracting agreement with Afresources.

Prior to obtaining formal approvals, Afresources will gain access to the Blue Ridge mine site to commence site construction and operational activities. All mine-related costs and expenses will be borne by Afresources effective from the access date, which will immediately alleviate Mantengu’s cash flow pressure.