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Dec 11, 2013· Sibanye makes R407m offer for Wits Gold. ... Wits Gold itself made an offer for a gold-mining operation in July, bidding for Great Basin Gold Ltd.'s Burnstone mine to .
Dec 11, 2013· Less obvious a perk in any successful bid for Wits Gold, is whether Froneman's Sibanye takes on Burnstone, a mine on which the now bankrupted Great Basin Gold spent some $800m over several years and which in July became the subject of Wits Gold's own R72.7m takeover bid.
Burnstone Mine ("Burnstone") on the South Rand Goldfield, entered into business rescue • Burnstone was placed on care and maintenance under the control of a small management team employed under short-term contracts • On 4 July 2013 Wits Gold submitted a binding offer for the acquisition of
South African company Southgold Exploration is a wholly-owned subsidiary of Toronto-based Great Basin Gold (GBG) Limited, which is an international mining company engaged in the exploration and development of gold properties. Southgold's principal asset is the Burnstone mine in Mpumalanga.
Sibanye offers R407-million for Wits Gold projects The gold mining company is seeking Wits Gold's operations to extend the life of its nearby Beatrix mine and unlock value. Oct 27, 2019
Johannesburg- and New York-listed Sibanye Gold was reviewing options to bring the idled Burnstone mine back to life from a "zero base", in a R7-million deal senior VP for business development ...
Jun 14, 2019· Burnstone project was previously operated by Great Basin Gold up to 2012 when the mine was placed on care and maintenance and GBG went into liquidation. An option on the mine was acquired by Wits Gold who in turn was acquired by Sibanye Gold. Feasibility study on the gold project was completed in 2015, as project development started in 2016.
Wits Gold put in a bid to acquire the mine, but in the end, Sibanye Gold (today Sibanye-Stillwater), on an acquisition spree under CEO Neal Froneman, bought the Burnstone assets in July 2014, after the mine had been in care and maintenance for close to two years.
Sabanye Gold has grabbed 157Moz of gold resources in its $40M takeover of Wits Gold and underpin the longevity of its Free State operations. MBM South African correspondent reports ... Operations at Great Basin Gold's Burnstone mine in South Africa have been suspended after the company failed to arrange working capital.
Wits Gold, which would need to inject R950-million over three years as working capital to bring the Burnstone mine back into production, including an initial payment of R7.25-million, was expected ...
WITWATERSRAND CONSOLIDATED GOLD RESOURCES LIMITED ... South Africa where the Burnstone mine project is located; ... Wits Gold will advance up .
Jul 08, 2013· Wits Gold, which explores for the metal in South Africa, made an offer for Great Basin Gold's Burnstone mine to give the company its first bullion-producing asset. Wits Gold will pay a .
The assets include the mining and prospecting rights formerly held by Wits Gold. In June 2017, a mining right consolidating four areas of the property (Bloemhoek, De Bron Merriespruit, Hakkies and Robijn) was approved for a 23-year period and executed. The mining right is contiguous to the north-east of the Beatrix mining right.
wits gold takeover of burnstone mine. Presentation: Acquisition of Wits Gold SibanyeStillwater. Burnstone Mine ("Burnstone") on the South Rand Goldfield, entered into business rescue • Burnstone was placed on care and maintenance under the control of a small management team employed under shortterm contracts • On 4 July 2013 Wits Gold ...
Wits Gold also holds uranium resources at Beisa North and South, adjacent to Beatrix West, which have potential to be developed into a uranium producer. Also, on July 4, 2013, Wits Gold submitted a binding offer for the acquisition of Southgold Exploration, which owns the Burnstone mine .
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Mar 22, 2013· The vertical shaft at Burnstone mine Johannesburg, South Africa --- 22 March 2013 - Witwatersrand Consolidated Gold Resources Limited (Wits Gold) "' which has a primary listing on the JSE and a secondary listing on the TSX "' is preparing a bid for the Burnstone gold mine in South Africa, which is in a business-rescue programme. The company is also keen to bid for AngloGold .
Burnstone burns creditors ... Wits Gold is yet to mine an ounce of anything. Once again a deal is on the table; this time with terms that appear greatly to favour Kotze's Wits Gold. On offer appears, for all intents and purposes, to be a veritable dripping roast: the 40 000oz per month Burnstone mine, situated near Balfour; one cash-strapped ...
Dec 13, 2013· It has agreed to exchange two mining-rights portions at Beatrix with Harmony Gold, for two of its permits at its Joel mine. It has also agreed to buy a majority stake in Gold One International's Cooke complex. Recently, Wits Gold bid for Great Basin Gold's Burnstone mine, which has been estimated to contain 6.4mn ounces of reserves.
Witwatersrand Consolidated Gold Resources has assured shareholders that the failure of the combined Wits Gold-Pan African Resources to purchase Evander Gold Mines in South Africa is not the end of its gold mining ambitions. The 50-50 consortium offer to Harmony Gold Mining was terminated by mutual agreement between the parties on May 30.
Burnstone gold mine | Wood Mackenzie. An option on the mine was aquired by Wits Gold who in turn was acquired by Sibanye. Sibanye as of Q4, 2014 was evaluating the mine with a planned...
HIGHLIGHTS: THE BURNSTONE TRANSACTION ... In June 2012, Wits Gold completed a Pre-Feasibility Study (PFS) over its De Bron-Merriespruit (DBM) Project situated in the southern Free ...
Jan 07, 2014· Wits Gold had committed to provide a R950m loan for working capital and capital expenditure at Burnstone. Wits Gold's other projects, such as De Bron-Merriespruit (DBM), were also looking difficult to fund. DBM had a peak funding requirement of about R2.37bn. As of December 31, 2012, Wits Gold had cash and cash equivalents of R15m.
JSE- and NYSE-listed Sibanye Gold has made a R407-million bid to acquire of Wits Gold, in a deal that could "give life" to the gold junior's assets and secure the future of Sibanye's ...
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