Anooraq Says Still In Talks With Angloplat Over Assets Buy

Anooraq Resources Corp. (ANO) Wednesday said it continues to discuss the acquisition of assets from Anglo Platinum Ltd. (AMS.JO) and associated financing.

Anooraq, incorporated in British Columbia but focused on South Africa, said it remains engaged in talks with the Johannesburg-based platinum producer over a 51% interest in the Lebowa platinum mine and additional 1% controlling interests in the equally-owned Ga-Phasa, Boikgantsho and Kwanda joint venture projects.

"The parties' discussions are progressing well and they remain committed to closing the transaction by April 30," Anooraq said.

Angloplat announced plans to sell control of Lebowa for 3.6 billion rand ($363.9 million) and the other stakes in September 2007 as part of a wider move to comply with black economic empowerment laws in South Africa aimed at redressing the company's apartheid past.

Company web site: www.anooraqresources.co.za

-By Robb M. Stewart, Dow Jones Newswires; [phone]; [e-mail]

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