21/02/2013· At the opposite end of the scale, Wits Gold could sell certain of its exploration assets to the majors who may be looking to extend their mines lifespans, as the companys project areas are strategically located adjacent to operating mines. Wits Golds four assets DBM, Bloemhoek, Robijn and Beisa are in the heart of South Africas gold mining territory and are
On 14 April 2014, Sibanye concluded the acquisition of Witwatersrand Consolidated Gold Resources Wits Gold had previously secured an option to acquire Southgold Exploration Ltd , which owns the Burnstone operation , through a business rescue process
On October 18, 2010 the SADPMR granted an export license to Burnstone authorizing the export of gold and silver and thereby allowing for the sale of precious metal. Commissioning of capital projects The initial mine capital expenditure program has generally been completed and the mine has commenced with production build up.
04/03/2013· The acquisition of Burnstone would immediately change Wits Golds status from explorer to producer while raising its overall gold ounce targets. We have good management capacity with a proven track record and have access to funding to ramp the mine up to full production.
05/10/2007· The mine is a low risk, low cost mine with an expected life of mine of 19 years. At full production, the mine will have approximately 2 500 employees. Products: Gold. Mining method: Underground.
Also, on July 4, 2013, Wits Gold submitted a binding offer for the acquisition of Southgold Exploration, which owns the Burnstone mine on the South Rand goldfield. Southgold is currently subject to business rescue proceedings following the commencement of the liquidation of Great Basin Gold Ltd. in September 2012.
05/04/2019· Wits Gold put in a bid to acquire the mine, but in the end, Sibanye Gold , on an acquisition spree under CEO Neal Froneman, bought the Burnstone assets in July 2014, after the mine had been in care and maintenance for close to two years.
05/07/2013· Earlier today, Wits Gold said that following an intensive due diligence and the submission of its business plan, it had been selected as the sole preferred bidder for Burnstone mine which is owned by Great Basin Gold subsidiary Southgold Exploration, but falls under the custodianship of liquidators in terms of business rescue proceedings.
03/05/2019· Wits Gold put in a bid to acquire the mine, but in the end, Sibanye Gold , on an acquisition spree under CEO Neal Froneman, bought the Burnstone assets in July 2014, after the mine had been in care and maintenance for close to two years.
07/04/2022· The Burnstone asset was acquired with the purchase of junior exploration company Wits Gold in July 2014. Burnstone, which was formerly operated as a mine until placed on care and maintenance in mid 2012, comprises two established shaft complexes, a 125,000 ton per month carbon in leach gold processing plant, tailings storage facility and related surface
June 10, 2020
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