Saturday, February 16, 2019

The human side to the failure of Aurora Empowerment Systems is a tragic one and is intensified by the apparent sang-froid of the firm's founder, Khulubusa Zuma who continues to spread his wings.

UPDATED - Shares in Simmer & Jack Mines shrugged off a weak initial response to its eventual purchase of Tau Lekoa mine to trade some 18% higher in mid-afternoon trade.

International gold mining and exploration company Randgold Resources says construction on its Kibali project in the DRC is six months ahead of schedule.

Randgold & Exploration says earnings per share for the six months ended June 2010 will be between 1 050c and 1 105c per share greater than the comparative unaudited earnings per share of 1c per share for the six months ended June 2009.

Take away investment flows and the gold price would topple off its current highs, market research firm, GFMS has said.

Simmer and Jack still needs to sell another R70m worth of bonds to meet the R100m repayment due to Rand Merchant Bank at the end of the month.

Absa Capital has raised R128m in a high yield, unrated bond issuance for Simmer & Jack Mines.

Some R50m in emergency funds could be funelled to Aurora Empowerment Systems by a Swiss-based fund, provided the reverse takeover by Labat is complete.

Bernard Swanepoel says he may consider returning to the gold industry in an effort to bulk up the asset base of listed firm Village Main Reef.

A timely reminder that all was not well in Europe has given gold some fresh impetus while the swap of gold for currencies by the Bank of International Settlements in its last financial year has been hailed by GMFS.