Chrometco’s update on business rescue of Black Chrome Mine

The business rescue proceedings of Black Chrome Mine, through the appointed business rescue practitioner of BCM, Mr. Phahlani Mkhombo (“the BRP”), will commence a structured bid process whereby prospective investors will be invited to potentially acquire all or some of the shares (either by purchase or subscription) in Black Chrome Mine or the business thereof (“Bid Process”). Prospective investors are being publicly invited to submit expressions of interest (“EOI”) to participate in the process. For further information regarding the Bid Process, interested parties’ attention is drawn to the following website link, www.blackcr.com, and prospective investors are invited to access the Link. The Link will open on or by 17h00 19 September 2022.

The Company will provide further information regarding the Business Rescue Proceedings and the Bid Process in further announcements.