Gold One Completes Jintu deal
GOLD One International, the dual-listed South African and Australian gold company, on Friday said the A$150m subscription by Chinese investors had been completed – as planned before the year end.
The company said it had issued and allotted 375 million ordinary shares to BCX Gold Holdings, a special purpose vehicle created by a consortium of Chinese investors, after receiving the requisite funds from the consortium.
Following completion of the subscription BCX Gold now holds 89.17% of Gold One.
Gold One President and CEO Neal Froneman said Friday’s subscription was the final step in completing the Jintu transaction, which was “transformational for Gold One”.
“These funds, together with the significant ongoing cashflows from Modder East, give us the financial capacity to take the next steps in continuing to build Gold One into a significant international gold company,” Froneman said.
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