BRIEF-Bauba Platinum to acquire 60 pct prospecting rights in chrome assets

JOHANNESBURG, March 19 Wed Mar 19, 2014 10:57am EDT

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JOHANNESBURG, March 19 (Reuters) - Bauba Platinum Ltd : * Entered assets for shares agreement to acuqire 60 pct interest in prospecting rights over the farms moeijelik 412 ks and waterkop 113 kt * Says the purchase consideration of R150 million is to be settled through the issue and allotment to the respective vendors * Deal with Highland Trading Investments ltd, Danene Trust, Kumane Trust, Math-pin Trust, Pimlico Investment Trust, Hlabirwa Mining Investments * Cancellation of the 2010 claw back subject to shareholder approval at the general meeting. * Says chrome minerals located on the farm moeijelik 412 ks have been assessed and determined to be economically viable * Financial effects of acquisition are in the process of being finalised

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