Wits Gold Takeover Of Burnstone Mine

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Burnstone 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. In …

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13/12/2013· South Africa’s Sibanye Gold has offered to buy Witwatersrand Consolidated (Wits Gold) for US$39mn, to enhance its footprint in the Wits Basin The Wits Basin, where Sibanye operates the Beatrix gold mine, has been estimated to contain more than 157mn ounces ...

Great Basin went into business rescue and Burnstone was acquired by Wits Gold. “If we fail at Burnstone, ... Sibanye now hopes to turn this difficult asset into a profitable mine. Although the price for Wits Gold was relatively modest, it will require a formidable ...

The Burnstone mine is one of the largest gold mines in the South Africa and in the world. The mine is located in the north-east of the country in Gauteng. The mine ...

21/6/2013· 4. Rationale for the Proposed Transaction In line with Wits Gold's strategy of owning and developing shallow mines in South Africa the acquisition of the Burnstone property represents both a compelling value and …

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Wits Gold has made an offer to purchase the shares of Southgold and certain shareholder claims of N6C Resources Inc. (“N6C”) in respect of Southgold (the “Southgold Sale Transaction ...

8/7/2013· Johannesburg, South Africa --- 08 July 2013 - Witwatersrand Consolidated Gold Resources Limited (Wits Gold) has announced that it is the sole preferred bidder for the Burnstone gold mining operation near Balfour, in the Mpumalanga province of …

4/7/2014· Dineo Faku THE completion of business rescue of Southgold Exploration meant the Burnstone gold mine in Balfour, Mpumalanga, was likely to resuscitate the economy of the area, Peter van den Steen, the mine’s …

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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 ...

8/7/2013· 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 nominal R100 for Great Basin Gold’s Southgold unit, which owns the mine …

o Back-ranked to new funding to be injected by Wits Gold and to be repaid from the Burnstone mine’s free cash flow; o Moratorium on interest and capital repayments for 36 months from transaction completion; o Southgold Debt attracts interest at LIBOR +4%;

5/7/2013· WGR 201307050003A Detailed further cautionary announcement regarding the offer by Wits Gold for the acquisition of Southgold Explorati WITWATERSRAND CONSOLIDATED GOLD RESOURCES LIMITED (Incorporated in the …

Wits Gold - Reviewed condensed interim financial information for the six months ended 30 June 2013 JOHANNESBURG, Sept. 30, 2013- Wits Gold ...

JSE-listed Witwatersrand Consolidated Gold Resources (Wits Gold) on Thursday said it had received approval to buy the struggling Burnstone mine, in Mpumalanga. The company said in a statement that the required number of Southgold creditors voted...

Sibanye Gold CEO Neal Froneman said, “Wits Gold owns significant exploration and project areas in the Wits Basin, containing approximately 157 million oz of gold resources. More importantly, its advanced De Bron Merriespruit and Bloemhoek ...

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7/1/2014· [miningmx] – THE R407m takeover of Witwatersrand Consolidated Gold Resources (Wits Gold) last year sees the departure – at least for now – of Johannesburg’s great gold bull, Adam Fleming, from active participation in South Africa’s gold exploration industry. ...

6/6/2014· Johannesburg- and New York-listed Sibanye Gold was reviewing options to bring the idled Burnstone mine back to life from a “zero base”, ...

Wits Gold also holds uranium resources at Beisa North and South, adjacent to Beatrix West, ... Limited (“Southgold”), which owns the Burnstone Mine (“Burnstone”) on the South Rand Goldfield. Southgold is currently subject to business rescue proceedings ...

22/3/2013· 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 ...

South Rand Goldfields Burnstone Mine Wits Gold • A South African focussed, fully empowered, junior gold developer and emerging producer • World’s fifth largest gold resource attributable to a single company (157 Moz) • Total Probable Reserves of 8.5 Moz gold ...

Topic - Burnstone Mine - Engineering News · Wits Gold gets approval to buy Burnstone. By: ... Natasha Odendaal 15th May 2012 JSE- and TSX-listed Great Basin Gold's ... wits gold takeover of burnstone mine wits gold takeover of burnstone mine …

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 WITS GOLD GETS THE NOD FOR BURNSTONE ACQUISITION ...

24/2/2016· confident of being able to begin gold production at the Burnstone mine in the next 18 months. ... Wits Gold gets approval to buy Burnstone By: Natasha Odendaal 11th July 2013 JSE-listed Witwatersrand Consolidated Gold Resources (Wits Gold…

11/12/2013· JSE- and NYSE-listed Sibanye Gold has made a R407-million bid to acquire 100% of Wits Gold, in a deal that could “give life” to the gold junior’s assets and secure the future of Sibanye’s Beatrix mine. The …