Braemore is founded on two independent and separate projects that are expected to lift the company into the ranks of the world’s top 10 nickel and platinum producers. Braemore is registered in London and quoted on the AIM.

In Australia, the company has acquired rights to reprocess nickel sulphide tailings to recover nickel metal at Leinster, Kambalda and Mount Keith, BHP Billiton’s (BHPB) three principal nickel mines. These tailings have been built up over the past 20 years or more and in total contain an estimated 485,758t of nickel metal. A further 500,000t of nickel in tailings is expected to be produced over the three mines’ remaining lives.

Leinster will be the first of the projects and pilot plant test work is in process, preparatory to a bankable feasibility study scheduled for completion in Quarter 4, 2008. This, in turn, precedes a decision to go ahead with the venture based on rapid atmospheric leaching of the tailings.

In South Africa, Braemore has acquired a 100% interest in Braemore Platinum Smelters. In turn, IPT has an exclusive licensing agreement in respect of the innovative ConRoast process that overcomes the smelting problems that currently restrict the ability to conventionally process concentrates from ores high in chromite or nickel. ConRoast has the potential to make the mining and processing of vast tonnages of UG2 and Platreef PGM ores economically attractive and technically feasible while remaining environmentally friendly.

We believe that ConRoast will enable Braemore to become a leader in South Africa’s expected growth in platinum metals production through joint ventures or strategic alliances with many new platinum miners.