[miningmx.com] — The Competion Commission has given the go-ahead for the sale of DRDGold’s Blyvooruitzicht mine to Village Main Reef, the companies said in a joint statement on Friday.
The Blyvooruitzicht transaction comprises two parts, “the Part A Sale’ and “the Part B Sale; in terms of the former, the sale claims are sold to the purchaser and in terms of the latter, the sale shares are sold to the purchaser.
“The commission’s approval means that there are no outstanding conditions precedent to the Part A Sale,” read a company statement. “The Part B sale remains subject to fulfillment of certain conditions precedent.”
Village would now issue 85,714,286 new shares to DRDGold, of which 20 million would be held in escrow pending the finalisation of Part B of the sale.
