DRD Gold’s shares boosted by talks with Blyvoor

Business Report mentioned that, DRDgold had entered into negotiations that could have an effect on the company’s share price. South Africa’s fourth largest producer of the precious metal said on Friday. It had earlier said that it would conclude the sale of its Blyvooruitzicht (Blyvoor) mine next month.

The bidders, both locally and internationally, would control 74 percent of the stake in the Carltonville mine. Blyvoor production was down 4 percent to 29 000 ounces in the third quarter. The Blyvoor mine is in the process of retrenching 500 employees because of rising costs of production including electricity. DRDGold’s stock advanced 5.37 percent on Friday to close at R5.49.

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Posted by admin on Nov 8 2011. Filed under Gold stocks. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry