As part of the agreement, Fundy will hold the exclusive right for 12 months to acquire the balance of Centurion's ownership in Naboom Platinum Deposit for $17 million.
We are pleased to team up with Fundy on the Naboom Project.
In April 2005, Centurion acquired 74% of the Naboom Platinum Deposit from AngloGold Ashanti Limited with the Black Economic Empowerment Partner retaining its mandatory 26% share.
Centurion, in implementing its strategy of growth through acquisition, and after completing its due diligence, has signed a definitive agreement with Majormatic 167 for the mineral assets of the Naboom Platinum property that were ceded by AngloGold Ashanti Limited.
The Naboom Platinum deposit is a shallow opencast deposit situated over 800 hectares (approx.
The Naboom Platinum property is an asset from which we believe we can extract tremendous value.