wits gold takeover of burnstone mine
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wits gold takeover of burnstone mine

Remember Burnstone - Mining Mirror Online

Apr 05, 2019 · 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

Projects | Sibanye-Stillwater

Sep 10, 2021 · The Burnstone asset was acquired with the purchase of junior exploration company Wits Gold in July 2014. Burnstone, which was formerly operated as a mine until placed on care and maintenance in mid-2012, comprises two established shaft complexes, a 125,000 ton per month carbon-in-leach gold

Wits Gold to bid for Burnstone | Miningreview

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

Wits Gold delivered on a plate to Sibanye - Miningmx

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.

Great Basin buys time as suitors mull Burnstone - Miningmx

Sep 19, 2012 · Burnstone. Interestingly, Wits Gold’s share price has been under significant pressure for much of the week despite the improvement in the gold price. Analysts believe Great Basin’s days are numbered. “n the unlikely event that there is a full takeover of these operations, we believe there is not much in value that will be

Sibanye Gold proposed acquisition of Wits Gold | Sibanye ...

Dec 10, 2013 · Wits Gold is a South African gold and uranium exploration company operating in the Witwatersrand Basin (“Wits Basin”) of South Africa. Wits Gold was formed in 2003 with the aim of acquiring properties adjacent to operating mines within the goldfields of the Wits Basin, in order to quantify their exploitable resources.

Presentation: Acquisition of Wits Gold

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

Failure at Burnstone will ruin Wits Gold: Kotze - Miningmx

Jul 05, 2013 · Earlier today, Wits Gold said that following an intensive due diligence and the submission of its business plan, it had been selected as the sole preferred bidder for Burnstone mine which is owned by Great Basin Gold subsidiary Southgold Exploration, but falls under the custodianship of liquidators in terms of business rescue proceedings.

Wits Gold to bid for Burnstone | Miningreview

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 gold mine project Report | Wood Mackenzie

Aug 05, 2021 · 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.

Great Basin buys time as suitors mull Burnstone - Miningmx

Sep 19, 2012 · Burnstone. Interestingly, Wits Gold’s share price has been under significant pressure for much of the week despite the improvement in the gold price. Analysts believe Great Basin’s days are numbered. “n the unlikely event that there is a full takeover of these operations, we believe there is not much in value that will be

wits gold takeover of burnstone mine - springgullytc.org.au

Wits Gold to bid for Burnstone Miningreview . Mar 22, 2013· Burnstone mine Johannesburg, South Africa 22 March 2013 Witwatersrand Consolidated Gold Resources 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.

Firm intention by Sibanye Gold to make a cash offer to ...

Dec 11, 2013 · Sibanye Gold further believes that Wits Gold's offer for the Burnstone gold mining operation ("Burnstone") ... The South African Takeover Regulation Panel established in

Sibanye bids R407m for Wits Gold - miningweekly

Dec 11, 2013 · 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

History | Sibanye-Stillwater

Sep 10, 2021 · A strategy of organic and acquisitive growth was subsequently adopted, which resulted in the acquisition of the Cooke operations from Gold One International in 2013 and Wits Gold, which owned the Burnstone project, in 2014. These two acquisitions helped create a more sustainable gold

Great Basin Gold Limited | Mining Business Media ...

Great Basin Gold has halved mine life expectations at the Hollister gold-silver mining project in Nevada, US from 6 to 3 years on new resource estimates against current production rates. Reflecting changes in geological modelling, measured and indicated resources were cut to 545,000oz gold equivalent (0.49Mt at 0.918oz/t Au and 5.7oz/t Ag at a 15oz/t cutoff).

Sibanye Proposes Acquisition of Wits Gold | E & MJ

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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burnstone gold mine co za

burnstone Mining News. Wits Gold announced as preferred bidder for Burnstone 3SMedia Jul 5 2013 Witwatersrand Consolidated Gold Resources (Wits Gold) was today announcement the sole preferred bidder for the Burnstone gold mining operation near Balfour in South Africa s Mpumalanga Province.

Sibanye Gold Is A Silent Overachiever With Ample Potential ...

Mar 12, 2014 · Wits Gold development projects. ... and on to Sibanye Gold if the described takeover concludes. The Burnstone mine is a shallow mine with mine

THE BURNSTONE PROJECT

Consolidated Gold Resources Limited (Wits Gold) • Wits Gold had previously secured an option to acquire Southgold Exploration (Pty) Ltd (Southgold), which owns the Burnstone operation (Burnstone), through a business rescue process • Following an extensive due diligence, Siba nye indicated its intention to exercise the option to acquire ...

Sibanye to go ahead with Wits Gold buy-out

Mar 31, 2014 · JSE- and NYSE-listed Sibanye Gold planned to take over the intricacies of Witwatersrand Consolidated Gold Resources’ (Wits Gold’s) move to buy the embattled Burnstone gold mine, in Mpumalanga.

Wits Gold to lend R950m in mine offer

Jul 05, 2013 · Wits Gold will also advance as much as 950 million rand to Southgold through a shareholder loan at 400 basis points, or 4 percentage points, over the three-month Johannesburg interbank agreed rate ...

Great Basin Gold Ltd. (fka GBGLF): Burnstone was ...

Dec 25, 2017 · 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 2015 Sibanye Gold completed a feasibility study which envisaged production of 100 120koz/a over a 23 year mine life.

FIRST REPORT OF THE RECEIVER - FTI Consulting

Burnstone Property for the benefit of the Lenders and, to that end, the Receiver is working alongside the BRP to facilitate the sale transaction of the Burnstone Property to Witwatersrand Consolidated Gold Resources (“Wits Gold”). 23. Wits Gold has made an offer to purchase the shares of Southgold and certain shareholder

Wits Gold - Reviewed condensed interim financial ...

Sep 30, 2013 · Offer to acquire the Burnstone Mine accepted; ... Wits Gold's board of directors is of the opinion that once the Company has raised the requisite funding, it will have sufficient funds to settle ...

Sibanye Gold Is A Silent Overachiever With Ample Potential ...

Mar 12, 2014 · Wits Gold development projects. ... and on to Sibanye Gold if the described takeover concludes. The Burnstone mine is a shallow mine with mine

The last chance saloon - Miningmx

Dec 30, 2011 · Wits Gold reckons its most advanced project – De Bron/Merriefield in the Free State – is comparable to Great Basin Gold’s Burnstone mine and a feasibility study is due out by the end of next year. Even with the booming rand gold price some shares – Central Rand Gold (CRG) in particular – simply do not look worth the risk.

Wits Gold to double up its risks - Miningmx

Dec 09, 2011 · All Gold PGMs Markets Energy Ferrous Metals Diamonds Base Metals Battery Minerals Why are we asking for mining policy certainty when it’s policy ARM doubles capital outlay for 2022 as commodity price gains boost

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Wits Gold Takeover Of Burnstone Mine. Wits Gold CEO Philip Kotze praised a business plan for which we believe is realistic deliverable value accretive to Wits Gold shareholders to ensure maximum benefit Wits Gold officials said 80 of the Burnstone mines capital has been spent to date creating a strong platform for a rerating of Wits Golds ...

South Africa’s Sibanye offers to buy Wits Gold for US$39 ...

Dec 13, 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

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(Wits Gold), a JSE and Toronto Stock Exchange (TSX) listed gold and ... that wrote the Takeover Regulations in the Companies Act. He is a non- ... sole owner of the Burnstone gold mine and assets. The acquisition of Southgold subject to the fulfilment of certain outstanding conditions. 11. LIQUIDITY.

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