Currently the parties are working on a stage 1 completion...

Currently the parties are working on a stage 1 completion process (which contemplates the settlement of the ABSA and EDF debt positions by way of a short term refinancing facility) to allow for the key regulatory conditions precedent to be satisfied and the formal transaction to proceed.

The Company also announced that Ivory Mint had agreed to establish a US$5m facility to as part of its commitment to proceeding with the sale process. AUDS$3m has been drawn down and will be utilised, amongst other things, to provide additional funding to the Company’s 74% owned subsidiary

Good to see the SA boys still getting paid.

Admin!!