The gold unit of SXR Uranium One will bid for former Brett Kebble companies JCI and Randgold & Exploration once the two have merged, creating a gold-mining company worth about R4billion ($538 million), according to sources.
The planned bid by Aflease Gold does have the the support of major shareholders of JCI and Randgold & Exploration, but it will settle claims between the two companies relating to assets worth more than R5 billion ($672 million) that were misappropriated under murdered former CEO Brett Kebble.
Aflease plans an all-stock offer to combine its South African exploration concessions with JCI’s cash and stock assets worth almost R2billion ($269 million).
source news : resourceinvestor.com
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