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Creamer Media Reporter

Perseus swings to loss in H1; chairperson to retire

27th February 2017 Dual-listed Perseus Gold has posted a A$25.61-million net loss for the six months ended December 31, compared with a profit of A$11.97-million in the six months to December 31, 2015. The net loss was largely the result of a $20-million settlement of a legal dispute with Bayswater Construction &... 

Cell C rejects Telkom’s buy-out offer

23rd February 2017 Mobile operator Cell C on Thursday confirmed that it had rejected an unsolicited nonbinding and conditional acquisition proposal from telecommunications giant Telkom. Media reports emerged this week that Telkom was planning to throw its hat in the ring for the buy-out of Cell C, which is being... 

Industry Desperate for Certainty on Carbon Tax

22nd February 2017 Leading energy consultancy Cova Advisory has warned that there is a desperate need for certainty over South Africa’s planned Carbon Tax.   The warning came in the run-up to this week’s Budget, when Finance Minister Pravin Gordhan is widely expected to give an update on plans for the new tax. “On... 

Sacci outlines Budget expectations

21st February 2017 With Finance Minister Pravin Gordhan preparing to deliver his 2017 National Budget speech on Wednesday, the South African Chamber of Commerce and Industry (Sacci) weighed in on its expectations at a time when South Africa is experiencing subdued economic growth. Amid the Reserve Bank having... 

ConCourt rules in favour of gold producers over 2013 wage agreement extension

21st February 2017 The Constitutional Court ruling in favour of the gold producers this week brings “final certainty” on the nature of an extended 2013 wage agreement. The ruling, relating to a June 2014 Labour Court order that upheld an interim order preventing the Association of Mineworkers and Construction Union... 

Rock-drill operator dies at Lonmin’s K3 shaft

21st February 2017 An investigation is under way after a rock-drill operator died and two other employees were injured in an incident at dual-listed Lonmin’s K3 shaft on Friday. Lonmin on Tuesday said a preliminary investigation indicated that the incident was possibly the result of the rock-drill operator drilling... 

Certainty on Carbon Tax needed from this year’s Budget – Cova

20th February 2017 With expectations of the long-awaited Carbon Tax being implemented in 2018, much more clarity and certainty will be needed from the 2017 Budget, which will be delivered by Finance Minister Pravin Gordhan on Wednesday. Currently, much uncertainty exists, with industry questioning policy certainty,... 

Blue Label expects higher H1 earnings

17th February 2017 JSE-listed Blue Label expects to report a surge in earnings bolstered in part by 58.18%-owned subsidiary Oxigen Services India’s fair value gains of R150-million in the six months ended November 30, 2016. Earnings a share are expected to increase by 54% to 58% to between 80.79c and 82.89c for the... 

Xtract inks collaboration deal with Nexus

13th February 2017 Aim-listed Xtract Resources has signed a collaboration agreement with private Hong Kong-registered Nexus Capital for the exploitation of alluvial gold deposits at the Manica gold project, in Mozambique. The agreement is the result of an internal review by Xtract of its alluvial contract, and... 

Rye Patch delivers gold into hedge

11th February 2017 Junior miner Rye Patch Gold has delivered 3 409 oz of gold into its hedged position at an average price of $1 275.13/oz and sold 4 804 oz of silver at $17.51/oz for gross revenue of $4.43-million. TheTSX-V-listed company also, in mid-January, received $1.2-million from its Rochester mine net... 

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