Eskom faces avalanche of opposition as tariff hearings begin

South Africa's State-owned power producer Eskom moved on Monday to defend its highly unpopular application for price increases of 35% a year for the three-year period from April 1, 2010, to March 31, 2013, at the first of what would be nine...

Recapitalised Pamodzi Gold puts ‘robust' new business plan to board

The recapitalised Pamodzi Gold this week put its new business plan to the board.

Overwhelming approval for Pamodzi Gold's R400m recapitalisation plan

The shareholders of cash-constrained Pamodzi Gold on Thursday voted overwhelmingly in favour of the gold junior's R400-million capital restructuring. Chairperson Ndaba Ntsele was able to announce that more than 99,9% of the shareholders present...

Pamodzi Gold withdraws unsigned loan plan from general meeting

Mining company Pamodzi Gold has withdrawn the HypoVereinsbank (HVB) loan-agreement resolution from next week's shareholders' meeting because the agreement has "not as yet been signed". Pamodzi Gold CEO Peter Steenkamp says that the company...

Pamodzi says finance conditions met

All the necessary conditions precedent to two loan agreements arranged by JSE-listed Pamodzi Gold (PZG) were met on December 24, the company reported this week. The firm announced in October it had arranged for loans of R200-million each from the...

Pamodzi Gold resorts to ‘do-it-yourself’ in face of banks' failure to raise R400m

When all else fails, you’ve got to go back to basics to rescue the situation, and that is what entrepreneur Ndaba Ntsele did to bankroll his under-capitalised gold company, Pamodzi. Global financial institutions had kept the gold junior on a...

South African gold junior Pamodzi resorts to 'do-it-yourself' raising of R400m

Cash-constrained gold junior Pamodzi had overcome fund-raising difficulties by itself raising a second R200-million tranche in order to attain the desired R400-million needed to capitalise its survival-mode gold mines in South Africa’s Free...

TWP’s project pipeline up 60% to R140bn

With a project pipeline valued at R140-billlion, up R52-billion from a year before, TWP Holdings was now the largest engineering service provider in Africa, the JSE listed group said on Thursday. In its interim results for the six months ended...

Pamodzi secures R200m funding package to recapitalise operations

Cash-strapped Pamodzi Gold has finally managed to secure R200-million loan from the a consortium, led by South Africa’s Industrial Development Corporation (IDC), to recapitalise its operations. The miner plans to use the cash to refurbish its...

Dolomite production soars and operating life trebles as Infrasors redesigns pit

Industrial and construction minerals producer Inrasors holdings’ Lyttelton Dolomite operation, producing aggregate and metallurgical dolomite, had a pit redesign last year that has provided the market with a 25% increase in throughput, with...

DRDGold dividend to ‘patient’ investors likely in June, says CEO Sayers

A dividend to “patient” shareholders is likely to be declared at the upcoming June year-end, says JSE-listed DRDGold CEO John Sayers.

Pamodzi March-quarter output up 35%, loss widens

Black-owned gold-miner Pamodzi Gold grew its after-tax loss in the quarter ended March 31 to R103-million from the R97-million reported for the previous three-month period, despite a 35% rise in gold production. The group reported on Monday that...