[miningmx.com] – SHARES in Village Main Reef (VMR) were 5% higher in Johannesburg after the company said it had received unsolicited approaches by third parties wanting to buy its assets and the company.
“To this end the company has appointed Qinisele Resources … a specialist resources corporate finance boutique, to formalise the process and to explore strategic alternatives in order to realise value for VMR shareholders,” VMR said in a statement.
VMR is nearing the end of a restructuring programme in which it had put its Blyvooruitzicht and Buffelsfontein mines into mothballs, agreed to sell Consolidated Murchison and decided not to follow its rights in Continental Coal.
Ferdi Dippenaar, CEO of VMR, told Miningmx on October 1 that shareholders had frequently questioned the company’s officers about its asset mix. They asked “… whether we are doing our best to extract value,” he said.
“So either we use Tau Lekoa or get the best value out of it by selling Tau and giving it back as a dividend,” said Dippenaar.
