Gold explorer eyes NSX next

28 June 2013 | Business

WINDHOEKDENVER ISAACS

Canadian-based exploration company Giyani Gold was officially listed on the Johannesburg Stock Exchange (JSE) on Wednesday, boosting its potential to explore a number of potentially lucrative areas in southern Africa.
Also listed on the Toronto Stock Exchange, Giyani Gold said in a statement issued yesterday that it intends to list on the Namibian Stock Exchange soon.
It currently has no exploration activities in Namibia, but said despite the international gold price dropping to a near three-year low on Wednesday, the country would be important in positioning it for strategic growth.
“Our listing on the JSE is part of our strategy to capture regional investments, including our Namibian funds,” Giyani's Namibian partner and vice president of business development, Knowledge Katti, told Namibian Sun on Wednesday.
The most prominent of the company's current developments is its plan for a 70 km long and 15 km wide, multimillion-ounce-producing gold operation in South Africa's northwest province of Limpopo, known as the Giyani greenstone belt.
The area was once known for its rich shallow gold deposits, boasting five mines that produced 450 000 ounces of gold in total, according to figures obtained from the mining website miningweekly.com.
Giyani has based its hope on the region's geological similarity to that of the 170-million-ounce-producing gold operations in Canada's Hemlo and Timmins areas.
Giyani on Wednesday issued 54,6 million shares at first trade, and its listing on the JSE has raised the company's cash resources to about 2,1 million Canadian dollars.
“The listing will provide the company with an additional platform to raise capital for growth in addition to raising the company's profile and investor base in the region,” Giyani gold president Charles Allen was quoted as saying yesterday.
The company has stated that, in order to increase its chances of success at increasing depths, it would implement newer technologies and techniques.

Similar News

 

O&L Leisure to temporarily close two lodges

1 day - 22 July 2021 | Business

Jo-Maré Duddy - As part of “urgent rescue measures to safeguard the future sustainability of its business and mitigate the risk of the impact on...

South Africa unrest hits 40 000 businesses

1 day - 22 July 2021 | Business

At least 40 000 South African businesses were looted, burnt or vandalised during widespread rioting that broke out after the jailing of ex-president Jacob Zuma,...

COMPANY NEWS IN BRIEF

1 day - 22 July 2021 | Business

BHP considering exiting oil business Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to...

COMPANY NEWS IN BRIEF

2 days ago - 21 July 2021 | Business

DHL to deploy longer distance drones Logistics giant DHL is working with Bulgarian aircraft developer Dronamics on rolling out cross-border and inter-city drones aimed at...

COMPANY NEWS IN BRIIEF

3 days ago - 20 July 2021 | Business

Nigeria chooses Dangote to import sugarNigeria has designated three companies, including Dangote Sugar Refinery, as the country's sole importers of sugar, the central bank said,...

Rössing moving forward after ‘challenging year’

4 days ago - 19 July 2021 | Business

STAFF REPORTER WALVIS BAY Rössing Uranium on Friday released its 2020 report to stakeholders under the theme ‘Moving Forward to the New...

COMPANY NEWS IN BRIEF

4 days ago - 19 July 2021 | Business

Standard Bank to buy Liberty stake Standard Bank is to buy the rest of insurer Liberty Holdings that it does not already own for R10.6...

Poorest half-year new vehicle sales since 2009

1 week ago - 16 July 2021 | Business

PHILLEPUS UUSIKU - Namibia’s new vehicle sales increased by 6.7% month-on-month and 9.9% year-on-year in June 2021.According to Cirrus Capital (CC), this growth should be...

Zinc shrinks mining jobs

1 week ago - 16 July 2021 | Business

Jo-Maré Duddy – Operational mining member companies of the Chamber of Mines of Namibia last year provided direct permanent employment to 8 147 people, 818...

COMPANY NEWS IN BRIEF

1 week ago - 16 July 2021 | Business

eBay to sell stake in Adevinta US e-commerce firm eBay Inc said on Wednesday it would sell part of its stake in Norwegian classifieds group...

Latest News

New electronic transfer system to...

1 day - 22 July 2021 | Economics

A new electronic funds transfer system has been gradually introduced into the Namibian market, with all stakeholders in the banking industry collaborating on the wide-ranging...

Katjavivi rapped over knuckles for...

1 day - 22 July 2021 | Justice

MATHIAS HAUFIKU WINDHOEKJudges hearing the appeal in the matter between National Assembly Speaker Peter Katjavivi and suspended Landless People’s Movement (LPM) leaders...

Govt to fight AR over...

1 day - 22 July 2021 | Agriculture

ELLANIE SMIT WINDHOEKThe government intends to fight a lawsuit in which Affirmative Repositioning (AR) activist Job Amupanda demanded the removal of the...

MPs ‘scared’ of LPM leaders

1 day - 22 July 2021 | Government

MATHIAS HAUFIKU WINDHOEKLawmakers fear that their safety will be in jeopardy if Landless People’s...

Vigilantism growing in South Africa

1 day - 22 July 2021 | Economics

SOFIA CHRISTENSENArmed community members and vigilante groups have stepped in to tackle unrest in South Africa, taking matters into their own hands and sometimes stoking...

EDITORIAL: Criminalise long suspensions

1 day - 22 July 2021 | Opinion

Hundreds of government and public enterprise employees are currently on suspension with full pay.Some of them have been on suspension for as long as two...

Opuwo police arrest more than...

1 day - 22 July 2021 | Crime

NAMPA OPUWOMore than 30 people were detained at Opuwo from the beginning of June...

South Africa unrest hits 40...

1 day - 22 July 2021 | Business

At least 40 000 South African businesses were looted, burnt or vandalised during widespread rioting that broke out after the jailing of ex-president Jacob Zuma,...

Delayed justice lawsuit delayed again

1 day - 22 July 2021 | Justice

JANA-MARI SMITH WINDHOEKA former taxi driver’s legal battle to be awarded millions in damages...

Load More