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Giyani Gold eyes JSE and TSX-V dual listing

5th April 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – TSX-V-listed Giyani Gold on Friday said it had appointed a South African advisory firm to act as transactional sponsor for Giyani to list on the Johannesburg Stock Exchange (JSE).

Giyani executive chairperson Duane Parnham said listing on the JSE would ensure the company opened new capital markets and attracted new investors to the company, while also demonstrating Giyani's commitment to building a regional African gold company.

“This relationship with the Sasfin team, led by Noah Greenhill, positions Giyani Gold for strategic growth in Africa and provides access to the financial support required to strengthen our development projects in the historically gold-producing province of Limpopo, South Africa,” Parnham said.

Giyani held four prospecting licences spanning 170 km2 of prospective Archean greenstone belt. It also had an exploration property in north-east Ontario.

Sasfin is an independent and diversified banking and financial services group with intimate knowledge of and senior relationships within the South African banking and investment communities.

Giyani said corporate finance executive Eddie Raff, a colleague of Greenhill, held significant gold-market insight and would be working closely with Giyani to evaluate a specific acquisition.

"Giyani Gold's strong relationships in Namibia and Southern Africa, together with management's proven track record in the region, make them exceptional candidates for expansion by partnering with Sasfin and dual listing on the JSE,” Raff said.

Parnham added the current market environment was presenting opportunities to acquire quality projects at “very reasonable” valuations. “Taking advantage of these opportunities requires experienced management, resource development expertise, regional African operating capability and a strategic financial partner like Sasfin."

Giyani has a market capitalisation of C$32.53-million and its stock on Friday traded 17.65% higher at 60 Canadian cents apiece.

Edited by Creamer Media Reporter

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