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