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.