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Gold One sells Australian exploration project for A$1,75m

By: Esmarie Swanepoel JSE and ASX-listed gold junior Gold One has sold its Twin Hills project for A$1,75-million. North Queensland Metals acquired a 60% stake in the Twin Hills exploration project, with Heemskirk Consolidated taking the remaining 40%. 

Gold One to list on JSE on May 18

By: Creamer Media Reporter South African junior-miner Aflease Gold on Thursday announced that all conditions precedent to conclude the acquisition of Aflease by ASX-listed Gold One International, formerly known as BMA Gold, have been met. This meant that the last day to trade Aflease shares would be Friday 15 May, and the... 

Gold One to be dual primary listed in mid-May – Aflease

By: Martin Creamer The inward dual primary listing of Gold One in Johannesburg and Australia would occur by no later than mid-May 2009, Aflease Gold anticipated on Tuesday. Gold One’s JSE and ASX listings “by no later than mid-May” would be subject only to the fulfilment of the last remaining condition precedent –... 

Maziya quits Aflease board

By: Creamer Media Reporter JSE-listed gold producer Aflease reported on Tuesday that Savannah Maziya had resigned as a nonexecutive director of the company, effective immediately. Aflease gave no reason as to Maziya resignation, and no replacement was announced. 

Gold One to have 13Moz resources inventory, says Aflease

By: Creamer Media Reporter JSE-listed Aflease Gold on Monday announced that its bondholders had approved the acquisition by ASX-listed Gold One International, previously known as BMA Gold, opening the way for the creation of a company with a resource base of over 13-million ounces of gold. The company also confirmed that... 

Daily podcast – March 9, 2009

By: Shannon de Ryhove In today's podcast: Rio Tinto isn't planning to delay construction of the Oyu Tolgoi copper and gold mining project in Mongolia; and the pumping crisis reported by Pamodzi Gold holds no immediate or even short-term threat to either the safety of Aflease Gold employees or to the company's mining... 

Competition authorities approve Aflease, BMA Gold merger

The South African Competition Commission and the Foreign Investment Review Board in Australia have approved the merger between Aflease and BMA Gold. Earlier this month, the shareholders of JSE-listed Aflease “unanimously” approved the transaction, which would see the creation of Gold One, which... 

Daily podcast – January 22, 2009

By: Shannon de Ryhove In today's podcast: the shareholders of Aflease approve the company's proposed merger with Australia-based BMA Gold; and BHP Billiton will cut about 6 000 jobs at a number of operations by the end of June. 

Aflease gets shareholder approval for BMA merger

By: Esmarie Swanepoel The shareholders of JSE-listed gold company Aflease on Wednesday approved the company’s proposed merger with Australia-based BMA Gold, to form Gold One. Aflease would now have to discuss the merger with its bondholders, as well as get final approval from South African competition authorities. 

Aflease raises R38m on 'advantageous terms' for Modder East gold project

By: Martin Creamer Johannesburg-listed Aflease Gold had raised an additional R38-million towards the funding of the Modder East gold project on South Africa’s East Randon “very advantageous terms in extremely difficult market conditions", Aflease CEO Neal Froneman said on Tuesday. Froneman said that the... 

Aflease agrees to innovative share-swap plan

By: Liezel Hill Aflease Gold, the South African junior that announced this month it would merge with Australia's BMA Gold, has come up with a somewhat convoluted plan to raise cash for its Modder East mine. The company has signed an agreement with Trinity Asset Management, which has agreed to swap shares that... 

Aflease cuts ‘09 output target as Modder East build up moves slower than anticipated

By: Matthew Hill JSE-listed gold development company Aflease gold on Tuesday said that the ramp up of its flagship Modder East mine, 30 km east of Johannesburg, would be slower than previous forecasts, and that capital costs of the project would likely jump by 20%. However, the company highlighted that the mine... 

Aflease says Modder East could begin producing in 2009

By: Matthew Hill Gold exploration and development business Aflease Gold recorded a net loss of R82-million and a headline loss of 15,7c a share, as it moved closer to production at its Modder East mine, just outside of Johannesburg, it said on Monday night. Aflease aimed to achieve first production at Modder... 

Sallies reengineers Buffalo plant to process rare-earth metals

By: Matthew Hill Struggling fluorspar producer Sallies, which operates two mines in South Africa, is busy reengineering the plant at its Buffalo operation to concurrently process rare-earth metals on an "urgent timeframe", with first production expected this year, a spokesperson said. 

Preliminary Modder East study shows big increase in project�s value

By: Matthew Hill Gold junior Aflease Gold, which is 67%-owned by uranium major Uranium One, expects to receive the audited revision of its feasibility study of the Modder East gold project, east of Johannesburg, by the end of the month, the parent company said last week. 

Great Basin awaits initial mining-right application acceptance

By: Matthew Hill TSX- and JSE-listed gold junior Great Basin Gold (GBG) has submitted its initial mining right application for its Burnstone project, in Mpumalanga, to the Department of Minerals and Energy’s (DME’s) provincial office, CEO Ferdi Dippenaar said on Monday. 

Revised Modder East study to show 'significant' value improvements - Uranium One

By: Matthew Hill Gold junior Aflease Gold, which is 67%-owned by uranium major Uranium One, expects to receive the audited revision of its feasibility study of the Modder East gold project, east of Johannesburg, by the end of the month, the parent company said on Tuesday. 

GBG's Dippenaar confirms data exchange with Aflease, but 'still early days'

By: Matthew Hill TSX- and JSE-listed gold junior Great Basin Gold (GBG) confirmed on Tuesday that it had received some information from rival Aflease Gold (Aflease) on its assets. 

Merger on the horizon as concrete figures finally appear

By: Matthew Hill It will take at least three months before a proposed merger of Brett Kebble-tainted Randgold & Exploration and JCI is effected, spokesperson for the two firms Brian Gibson said on Friday. Speaking in a telephone interview, he said that it was now up to the financial directors of the two... 

Rescaling a technology to detect hazardous water bodies in mines

By: Jade Davenport JSE-listed gold- and uranium-miner Simmer & Jack Mines (Simmers) has announced its intention of raising capital for its uranium subsidiary, First Uranium. 

Simmers in uranium capital raising exercise, mulls listing

By: Jade Davenport JSE-listed gold and uranium miner Simmer & Jack Mines (Simmers) has announced its intention of raising capital for its uranium subsidiary, First Uranium. 

Junior mulls brownfields copper project in Limpopo

By: Helene Le Roux Junior-mining company BSC Resources is reviewing the possibility of starting a brownfields copper project in Messina, in the Limpopo province. 

Business-management systems improve efficiency, cut costs

Mines are faced with the dilemma of managing growth of new developments while keeping operational costs down to a minimum. In the past, mines had a choice of very expensive Enterprise Resource Planning (ERP) systems or low-end systems, or they had to make do with islands of information using... 

R&E's JCI claim likely to exceed R1,1bn

By: Terence Creamer Gold holding company Randgold & Exploration (R&E) was to submit a statement of claim against JCI in the next few weeks, which was likely to be materially higher that the R1,1-billion ‘base claim’ laid out in a preliminary report arising from a forensic audit into fraud and... 

Is Aflease set to emerge as Western Areas kingmaker?

By: Terence Creamer Gold development company Aflease Gold could well emerge as the central figure in determining the outcome of the tussle for troubled gold miner Western Areas, control for which appears set to be contested by rivals Harmony and Gold Fields. Both Gold Fields and Harmony covet the prized South Deep... 

R&E forensic report confirms R1,4bn in asset misappropriation

By: Mariaan Webb South African gold company Randgold Exploration (R&E), which was suspended from the JSE and Nasdaq last year after failing to submit financial statements, on Tuesday confirmed massive fraud amounting to R1,4-billion, which was committed during Brett Kebble’s tenure as chairperson. 

Firm wins exploration rights in Namibia and SA

By: Liezel Hill South African gold-miner Aflease Gold (Afgold) has been awarded its first Namibian prospecting license, as well as three new-order prospecting rights in South Africa, the company announced earlier this month. 

Afgold accelerates work on East Rand asset

By: Nicola Mawson The South African gold board's new kid on the block, Aflease Gold (Afgold), which arose out of a marriage between the East Rand assets of the old Aflease and Sub Nigel in January, aims to have a bankable feasibility study for its high-potential Modder East asset on the East Rand completed in the... 

More mining firms prepare to list on JSE

By: Nicola Mawson South Africa’s bourse saw ‘huge growth’ in listings of mining firms last year, according to business development manager Noah Greenhill. 

Yet more mining firms prepare to list on JSE

By: Nicola Mawson South Africa's bourse saw 'huge growth' in listings of mining firms last year, according to business development manager Noah Greenhill. Greenhill adds that prospects for the JSE in 2006 are even better than in 2005, which saw seven resources firms list, with several companies already submitting... 

New SA-linked uranium force seeks scale in Canada and Australia

By: Terence Creamer The development of the Dominium uranium mine near Klerksdorp and the further expansion of the asset suite, particularly in North America, have been set as the key priorities for SXR UnraniumOne, the company now emerging following trans-Atlantic shareholder backing for the reverse takeover by... 

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