Keaton Energy today announced implementation of the transaction in terms of which it acquires a 74% interest in Leeuw Mining and Exploration (Pty) Limited (LME).
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Keaton Energy Holdings Limited announced today that the Minister of Mineral Resources has consented to a change in control of Leeuw Mining and Exploration (Pty) Limited, in terms of Section 11 of the Mineral and Petroleum Resources Development Act.
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In terms of paragraphs 3.63 - 3.65 of the JSE Limited Listings Requirements,
the following information is disclosed:
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Further to the announcement released on SENS on 12 October 2011 giving details
of the appointment of Jacques Rossouw as Financial Director Designate to Keaton
Energy, shareholders are now advised that Mr Rossouw has now been appointed to
the board of directors of Keaton Energy in the capacity of Financial Director
with effect from 1 December 2011.
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Keaton Energy today announced net profit of R8.4 million, reflecting increased sales of 5-Seam coal to domestic customers and the start of 4- and 2-Seam coal deliveries to South African power utility Eskom from the company’s Mpumalanga-based Vanggatfontein Mine.
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Keaton Energy has made the transition from explorer and developer to producer in record time. The first exploration borehole was drilled on the Vanggatfontein property in November 2007 and by May 2010 opencast mining had begun, following receipt of regulatory approvals and access having been gained to the surface rights.
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The Company`s reviewed results for the six months ended 30 September 2011 are expected to be published on or about 2 December 2011. Full release
Keaton Energy Holdings, in a business update released today, says it sold nearly 100 000t of 5-Seam coal from its Mpumalanga-based Vanggatfontein Project into the domestic metallurgical industry and to thermal coal customers in the six months ended 30 September 2011.
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Keaton Energy’s six-month, interim reporting period ended on 30 September
2011. The company expects to release its interim financial results early
in December 2011.
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Preliminary summarised audited group results for the year ended 31 March 2011 (PDF - 653KB)
Absa Stockbrokers/ JSE Showcase (PDF -825KB)
Fact sheet, September 2011 (PDF - 668KB)