Village Main receives R1bn offer for Tau Lekoa

JSE-listed Village Main Reef said on Monday it was examining an unsolicited binding offer for its Tau Lekoa gold mine, in the North West, as well as a conditional offer for its Weltevreden assets. Tannous Investment Group, an Orkney-based...

Angry First Uranium shareholders seek to ‘kill two birds with one stone’

A group of disgruntled First Uranium shareholders are threatening to vote down AngloGold Ashanti’s $335-million purchase of the company’s dump reprocessing division Mine Waste Solutions (MWS), thereby killing the planned $70-million sale of...

Village Main Reef says Q3 output 5% short of forecast

JSE-listed Village Main Reef reported on Thursday that its third-quarter gold production fell 2 021 oz short of its targeted output. The South African miner produced 38 508 oz in the quarter, ended March 31, which was 14% below the levels...

Village Main Reef reports higher Q2 profit

JSE-listed Village Main Reef on Thursday reported record second-quarter profits and strong cash generation, with earnings a share rising to 16.57c and revenue totalling R693-million. In its interim financial statement for the period ended...

Village concludes binding deal to buy DRDGold’s Blyvoor

JSE-listed Village Main Reef has concluded a binding agreement to buy the Blyvooruitzicht (Blyvoor) gold mine from DRDGold for R1 and shares worth about R192-million. Village Main and DRDGold first announced the transaction in November last year.

DRDGold shuts two Blyvoor shafts, may cut 1 800 jobs

JSE-listed DRDGold has suspended all mining at its 74%-owned Blyvooruitzicht Gold Mining’s (Blyvoor’s) low-grade No 4 and No 6 shafts, affecting up to 1 800 employees. This follows the shafts’ lack of response to business rescue turnaround...

Platinum explorer finds Merensky at 204 m

Platinum and precious metals exploration miner Village Main Reef (Village) reports that is has intersected the Merensky platinum reef at 204 m below the surface at its jointly owned Lesego operation near Burgersfort, in Limpopo.

Village misses December quarter guidance

JSE-listed gold producer Village Main Reef on Monday reported that it missed its expected gold production target for the December quarter by 705 oz, producing 44 627 oz of gold. The miner also produced 1 356 oz less gold than in the preceding...

Village may buy DRD’s Blyvoor gold mine for R1

Bernard Swanepoel’s Village may buy JSE-listed DRDGold’s Blyvooruitzicht gold mine for R1 in cash and R150-million in shares. JSE-listed Village also bought Consolidated Murchison for R1 last year.

Village reports 18% production growth

JSE-listed Village Main Reef (Village) on Thursday reported a strong performance for the September quarter, with operating profit from operations jumping 337% and production rising 18%. The higher production, combined with record gold prices...

Simmers-absorbing Village lifts gold/antimony output

JSE-listed Village Main Reef has lifted production by more than 18% in its first quarter after absorbing Simmer & Jack’s assets. “We were able to increase production at all operations,” Village CEO Bernard Swanepoel said.

Village to grow gold output in September quarter

JSE-listed mining company Village Main Reef plans to increase its gold production in the first quarter of its 2012 financial year. The quarter, which ends September 30, is the first full quarter that Village will own the Buffelsfontein (Buffels)...