Great Basin meets Burnstone production target, Nevada falls short

JSE- and TSX-listed Great Basin Gold’s Burnstone mine, in Balfour, South Africa, has exceeded its gold production forecast for the three months ended March, the company reported on Tuesday. Burnstone produced 6 671 oz of gold for the period,...

Dippenaar out to win back confidence in Great Basin

For Great Basin Gold, which owns gold mines in Nevada and South Africa, the last year has been gruelling. So gruelling in fact, that CEO Ferdi Dippenaar summed it up on Tuesday when he bluntly said: “2012 can never be as bad as 2011”. The...

Great Basin Gold announces new deal to raise C$50m

Dual-listed Great Basin Gold has terminated its bought deal announced last week, and replaced it a new deal, sweetening the offer price to C$0.75 a share. The junior mining company was aiming to raise C$50-million to carry its Burnstone gold...

Great Basin Gold’s share weakness puts BEE into default

The decline in the share price of junior gold miner Great Basin Gold has resulted in the bank loan to its black economic-empowerment (BEE) partner going into default. The share price of the JSE-listed gold miner fell a further 4.76% to R5.99 a...

Great Basin needs another C$50m

Gold junior Great Basin on Thursday said it is raising C$50-million in a bought deal financing to carry its Burnstone mine in South Africa through to the third quarter, when it expects the operation to be cash-flow positive. The company has...

SOUTH RAND SUCCESS

The multi-billion-rand investment in South Africa’s first greenfields gold mine in decades in the largely forsaken South Rand basin has boosted the socially depressed Balfour area of Mpumalanga. Great Basin Gold CEO Ferdi Dippenaar must take the...

Burnstone FY production falls short of guidance

Great Basin Gold (GBG) continues to face challenges in the production build-up programme at its Burnstone mine in South Africa, it reported on Monday, as production from the mine fell 6 000 oz short of its revised guidance. The mine, near...

Great Basin says Burnstone progressing well

Gold miner Great Basin Gold’s (GBG’s) development plan at the Burnstone mine, in Mpumalanga, was progressing well, despite production falling short of its targeted 14 000 oz of gold in the third quarter of 2011. The implementation of a long...

Great Basin executes $150m loan for Burnstone

Emerging miner Great Basin Gold has executed a $150-million loan which it will use to finance the additional development needed to deliver on its 2012 production build-up plan at the Burnstone mine, CEO Ferdi Dippenaar said on Wednesday. Great...

Great Basin appoints VP for Nevada ops

Gold multinational Great Basin Gold on Monday announced the appointment of Nevada operations VP Joseph Driscoll. Driscoll is a qualified mining engineer and is an alumnus of the College of Mineral Science and Technology (1987) from which he holds...

Burnstone’s move to mechanised mining affects short-term output

Production at Great Basin Gold’s (GBG’s) new Burnstone mine, in Mpumalanga, increased during the three months to September 30, 2011. However, the ramp-up remained behind schedule and the decision to change the underground stope layouts would...

Great Basin on track to achieving higher mining rate at Burnstone

Gold miner Great Basin Gold (GBG) was on track to achieving its planned increased rate of mining at the Burnstone mine for the remainder of this year and for 2012, CEO Ferdi Dippenaar said on Thursday. He said the group gained a better...