[miningmx.com] – VILLAGE Main Reef (VMR), the gold, platinum and coal investment company subject to a R637m bid by Chinese investor, Heaven-Sent, posted a 14% increase in December quarter headline share earnings.
This was owing to a 23% increase in gold sales from its west Rand gold mine Tau Lekoa of 31,025 ounces in the quarter from 25,270 oz in the previous quarter as the company released locked-up gold in the metallurgical plant.
The company confimed that the failure of a bid for Consolidated Murchison by Australian outflit, Stibium, would result in the gold and antimony producer being placed in business rescue. It would therefore be de-consolidated from VMR, the firm said.
