Gold One secures financing for acquisitions

ASX- and JSE-listed Gold One has secured enough financing to complete its current acquisitions, the company said on Tuesday. The junior miner was granted an unsecured $75-million shareholder loan facility from Baiyin Nonferrous Group subsidiary...

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...

Optimum Coal secures R2.2bn loan facility

JSE-listed Optimum Coal said on Wednesday that a new R2.2-billion debt facility would enable the company to fund near-term capital and growth commitments. The company entered into the revolving credit facility with a consortium of lenders...

Gold One secures R1.47bn for Rand Uranium acquisition

Junior miner Gold One has secured a R1.47-billion (about $210-million) financing agreement for its Rand Uranium acquisition, the ASX- and JSE-listed company announced on Monday. Gold One arranged the financing agreement with Investec Bank.

Lonmin unveils new bank facilities worth $1bn

Platinum miner Lonmin has replaced its existing $875-million bank debt with new facilities totalling $1-billion, which would lower its cost of funding, and improve the maturity profile of its debt, CFO Simon Scott said on Wednesday. A...

Jubilee Platinum buys Power Alt for R27m

Aim-listed Jubilee Platinum has acquired 51% of the shares and claims in Power Alt for R27,5-million through an agreement with Investec Bank, African Data Corporation (ADC) and Astra Group Holdings. Investec and Astra each currently own 40% of...

European Goldfields signs mandate for $300m loan facility

TSX- and Aim-listed European Goldfields has signed a mandate letter with a group of financial institutions to arrange a $300-million secured term and revolving facility, the firm said on Thursday. The funds will be used to build the company's...

Blue Ridge mine, South Africa

A 4E PGM mine, situated in South Africa

South Deep will prove to be one of the best investments ever made – Gold Fields

South Deep will prove to be one of the best investments ever made, says Gold Fields CEO Nick Holland. “People will look back and say, ‘it was a steal’, in comparison to everything else out there,” Holland says. Gold Fields is positioning...

Burnstone gold project, South Africa

The proposed project will involve the construction of a new gold mine on a relatively shallow but marginal prospect of the Witwatersrand basin.

Junior miner Platmin raises $385m

Junior-miner Platmin announced on Friday that it had successfully raised a total of $385-million in funding from a prospectus offering and private placement. The company raised $250-million of new equity by issuing about 205,7-million new common...

Platmin raises $250m in new equity

SX-, Aim- and JSE-listed Platmin, which develops platinum projects in South Africa, said on Thursday that it had raised $250-million in new equity. The company agreed to issue over 205,7-million new shares at $1,125 a common share.