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Tirupati Graphite to raise £10m to fast-track development plan

By: Tasneem Bulbulia     16th April 2021 Specialist graphite producer Tirupati Graphite, with operations in Madagascar and India, has announced a placing with institutional and other investors of 11-million ordinary shares to raise an aggregate gross amount of £10-million. Certain directors of the company are subscribing for shares... 

Trust pays first claimants under silicosis settlement  

By: Marleny Arnoldi     2nd March 2021 The Tshiamiso Trust, which was established in February 2020 to manage the payment of benefits to eligible silicosis and tuberculosis (TB) sufferers in the gold mining sector, has paid benefits to the first seven claimants in the past two months. The trust has been hard at work over the past year... 

Pan African more than doubles cash, reduces debt 

By: Donna Slater     16th February 2021 Midtier gold producer Pan African Resources increased its net cash generated from operations by 178.2%, to $28.1-million in the six months ended December 31, 2020. The miner also managed to reduce its debt by 47.3%, implying a net debt to net adjusted earnings before interest, taxes,... 

R10bn Eskom-Nersa settlement opens way for 15.63% hike on April 1  

By: Terence Creamer     16th February 2021 The National Energy Regulator of South Africa (Nersa) and Eskom have reached an agreement to add R10-billion to Eskom’s allowable revenue in 2021/22, to be recovered through the tariff, pending the outcome of an appeal of a 2020 High Court ruling directing the regulator to immediately add back... 

Tsodilo concludes second tranche of private placement

By: Marleny Arnoldi     11th February 2021 TSX-listed Tsodilo Resources has closed the second and final tranche of its private placement financing for gross proceeds of $150 000. The company issued 300 000 shares at a price of C$0.50 apiece.  

Osisko Development completes C$68.6m private placement offering

By: Donna Slater     8th January 2021 TSX-listed gold project developer Osisko Development has completed a previously announced nonbrokered private placement of 9.34-million units at a price of C$7.50 apiece for aggregate gross proceeds of about C$68.6-million. The proceeds will be used to further develop the Cariboo gold project,... 

Legal tug-of-war shutters one of SA's richest chrome mines

By: News24Wire      18th December 2020 A chrome mine in Limpopo, potentially one of the richest in South Africa, has sat idle while a series of arcane court battles ensue between local and Chinese business interests. A development agency tasked with bringing employment to the area has lost its stake in the mine, and some 1 200... 

Australian coal needed in China - WoodMac

By: Esmarie Iannucci     17th December 2020 Analysis by advisory firm Wood Mackenzie (WoodMac) has shown that there will be no winners in the coal war between Australia and China. Reports emerged earlier this week that National Development and Reform Commission had met with the ten major power companies over the weekend, and had granted... 

Otso raises $11m as it begins to move to production

By: Mariaan Webb     14th December 2020 TSX-V-listed Otso Gold on Monday announced that it had executed a subscription agreement with Brunswick Gold for a strategic investment of $11-million into the company. Brunswick is a limited liability company incorporated under the laws of Cyprus, acting at arm’s length to Otso, pursuant to... 

Sibanye to proceed with buyout of shares from holders of fewer than 400 shares  

By: Marleny Arnoldi     11th December 2020 JSE-listed gold miner Sibanye-Stillwater advises that all conditions precedent to its odd-lot and specific offers have been fulfilled and the company will soon proceed with its implementation. The company on November 2 announced its intention to make an odd-lot offer to shareholders holding... 

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