Sibanye-Stillwater to trade assets for 38% stake in DRDGOLD

Seeking Alpha

Published Nov 22, 2017 08:31AM ET

Sibanye-Stillwater to trade assets for 38% stake in DRDGOLD

  • Sibanye-Stillwater (NYSE:SBGL) and DRDGOLD (NYSE:DRD) announce a surface mining partnership in which SBGL will exchange some surface gold processing assets and tailings storage facilities for a 38% stake in DRD worth 1.3B rand ($93.5M).
  • SBGL also will have the option of buying more shares in DRD to attain a 50.1% stake within 24 months.
  • The mine dumps and tailings dams contain 3.82M oz. of probable gold mineral reserves and 42.9M lbs. of probable uranium reserves, SBGL says.
  • Now read: Coal Glows Atop Basic Materials Per November Broker Target Gains

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