JOHANNESBURG (miningweekly.com) – Southern Africa-focused Giyani Gold on Thursday announced that it remained in exclusive negotiations with a private international energy company with multiple projects in attractive jurisdictions, including an operating asset in South Africa, with the period of exclusivity having been extended to August 15.
“The complete terms and conditions for a potential transaction between Giyani Gold and the energy company continue to be discussed as both parties work towards finalising an agreement,” the gold company said in a statement.
Giyani executive chairperson Duane Parnham last month said the portfolio held by the energy company included cash-flow generating operations, as well as projects with significant development potential that would be best advanced by combining the management and technical teams of the two companies.
“Giyani Gold is focused on acquiring significant assets to strengthen our company and reward our shareholders. We have built a strong relationship with the energy company and now that we are in a period of mutually desired exclusive negotiations, we will move quickly to finalise a binding definitive agreement,” he noted.
The period of exclusivity for the negotiations was initially expected to last until the execution of a definitive agreement or July 30, 2014, whichever was earlier.