Aberdeen International Inc. (AAB.TO)(“Aberdeen” or the “Company”), further to its press release dated November 14, 2014, is pleased to announce that through its wholly owned subsidiary Great Lakes Capital Management Inc. (“Great Lakes”), the Company has completed its investment into a privately held Mauritius company, African Thunder Platinum Limited (“ATP”). The Company, along with its co-investment partner Pala Investments Limited (“Pala”) have each invested an aggregate of USD$7,000,000 and as a result both Great Lakes and Pala each hold a 42.25% interest in ATP. The remaining 15.5% interest in ATP is held by Platinum Australia Limited (the “Seller”) and an Australian bank as minority shareholders.
ATP has acquired all of the issued and outstanding common shares of certain subsidiary companies from the Seller which directly and indirectly hold interests in various projects including a 69.75% interest in the Smokey Hills mine, a former production PGM mine and processing plant located on the Eastern Limb of the Bushveld and a 49% interest in the Kalplats project, a highly prospective PGM property located in the Kraaipan Greenstone belt. It is anticipated that the restart of the Smokey Hills mine and processing will occur within the first quarter of 2015.
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