Tamela buys 26% stake in Roymec

Black-empowered investment group Tamela Holdings has bought a 26% stake in engineering contracting company Roymec in a black economic-empowerment deal funded by Investec Bank. Vusi Mahlangu and Sydney Mhlarhi, the founding management of listed mezzanine financing group, Makalani Holdings, also managed Tamela and would join Roymec’s board of directors. Read more….

Central African Gold warns it may face funding shortfall

Aim-listed gold-miner Central African Gold (CAG) on Thursday reported that it had received a number of formal offers for the disposal of its assets in Mali, however, the cash components of these offers have been less than previously anticipated. The company said in a statement that the potential cash proceeds from the project disposal could [...]

Strong Aug – Oct seen for Canadian, US gold equities

North American gold stocks will likely put in a good performance this month, as well as in September and October, Investec Asset Management said on Thursday. Canadian and US gold equities have historically tended to outperform their benchmark indices during the three-month period, and “we believe that this strength is likely to be repeated this [...]

Investec to arrange project funding for Great Basin’s Burnstone mine

TSX- and JSE-listed Great Basin Gold said on Wednesday it had asked Investec Bank to arrange project funding for its Burnstone mine, in South Africa’s Mpumalanga province. The facility would consist of an R850-million senior debt facility and an R180-million standby debt facility to cover potential cost overruns. Great Basin said that significant progress had [...]

Metals and mining vulnerable to commodity sell-off – Investec

Metals prices and mining stocks could be headed for a fall as industrial demand does not keep up with investor expectations. Read more….