IN BRIEF: Sable Exploration and Ironveld renegotiate agreement terms

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Sable Exploration & Mining Ltd - Sandton-based mineral development group - Renegotiates the stalled agreement between Sable and Ironveld Holdings (Pty) Ltd, the South African subsidiary of Ironveld PLC. Ironveld has committed to fund the completion of the beneficiation plant and commissioning is expected within the next few weeks, Sable says. The plant will process, produce, market and sell dense medium separation grade magnetite. The joint venture will be structured as a 50-50 partnership between Altona Processing (Pty) Ltd, a subsidiary of Ironveld, and Sable via its unit Lapon Plant (Pty) Ltd. Magnetite production is scheduled to start this month, with the plant reaching full capacity by April.

Sable stock price: 4 rand cents

12-month change: down 96%

Ironveld stock price: 0.038 pence

12-month change: down 78%

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