🕐01.06.12 - 08:54 Uhr

VILLAGE RECEIVES SECTION 11 APPROVAL FOR THE ACQUISITION OF CONS MURCH



Village press announcement
1st June 2012
Village receives Section 11 approval for the acquisition of Cons Murch
Village is pleased to announce that it has received Section 11 approval from the South African Department of Mineral Resources ("DMR") for the acquisition of 74% of Consolidated Murchison Mine (Pty) Limited ("Cons Murch"), which owns the Cons Murch Mine, from To The Point Growth Specialists (Pty) Limited ("TTP").


Village shareholders approved the acquisition of Cons Murch from TTP during March 2011.

TTP initially acquired Cons Murch from Metorex Limited ("Metorex") in 2010.

On acquisition Metorex held an old order mining right and Village assumed responsibility to obtain conversion of the old order mining right to a new order mining right, before application could be made to the DMR for section 11 approval for the acquisition from Metorex.

Section 11 approval was the last remaining condition to the acquisition by TTP and the subsequent acquisition by Village of Cons Murch from Metorex.
Marius Saaiman, joint CEO said: "This is an important milestone for Village as we are now the legal owners of the new order mining right allowing us full flexibility in dealing with this asset.

The DMR was most helpful during the conversion process and we thank them for their support and guidance throughout this important process."
ENDS
Contacts:
Village Joint CEO | Marius Saaiman | | 082 458 3420 Vestor | Media and Investor Relations | Louise Brugman | | 011 787 3015 | 083 504 1186
Logo_sharper02 media & investor relations
louise brugman managing director Tel: +27 (0) 11 787 3015 Cell: +27 (0) 83 504 1186 skype louise.brugman Email: Web: www.vestor.co.za



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