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Giyani Gold a step closer to mining South African tenements

2nd September 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – An acceptance letter, which is the last step towards the issuing of a final mining grant, was issued to dual-listed Giyani Gold by the Department of Mineral Resources (DMR) this week.

The company on Friday said the letter from the DMR provided Giyani’s State-owned partner Corridor Mining Resources (CMR) and subsidiary Rock Island a retention licence for prospecting the Louis Moore, Klein Letaba-Frankie, Horsehoe and Birthday tenements.

CMR and Giyani Gold each own 45% of Rock Island.

“The Rock Island partners had a very productive meeting on August 31, in Pretoria, discussing key issues such as the immediate loan repayment owed to Giyani Gold, granting of our retention licences and options to improve a way forward designed to realise the true value of these key assets in an improved global gold market.

“We remain confident in South Africa’s mining environment and we are evaluating a number of opportunities available to spark future growth,” stated Giyani chairperson Duane Parnham.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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