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Sibanye-Stillwater's option exercise gives it over half of DRDGOLD

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(Kitco News) - Sibanye-Stillwater (NYSE:SBGL) now owns a 50.1% shareholding in DRDGOLD after exercising its options.

The option agreement dates back to November 2017.

The CEO of Sibanye-Stillwater, Neal Froneman, noted that DRDGOLD is up in the three years since the option transaction.

“By securing the majority holding in DRDGOLD, a leading surface mining and processing company, we continue to create value for all stakeholders in line with our vision," said Froneman. "We are thrilled that the value of our initial shareholding has already increased by 147% over 17 months.  The DRDGOLD team has a proven track record and has successfully implemented the Far West Rand Recoveries project, having reached its 500 000 tonne per month planned capacity for Phase 1. We look forward to further value creation as DRDGOLD completes its detailed planning and possible implementation of Phase 2”.

DRDGOLD will continue to be listed on the JSE.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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