Low cost production growth from Galaxy mine, operating improvements at Mupane, substantial exploration upside, excellent re-rating potential with exposure to gold price and an experienced management team.
Mupane Gold Mining (Pty) which is a conventional open-pit and underground mining operation with mill and carbon-in-leach (CIL) processing. The CIL plant has a nameplate processing capacity of 1.2 million tonnes-per-annum of oxide ore and 1.0 million tonnes per annum of sulphide ore.
Galaxy gold is an underground mining and tailings recovery operation with mill and floatation producing a sellable gold concentrate. The operation is situated approximately 6km west of Barberton, in Mpumalanga province South Africa. Galane gold acquired the operation in November 2015 and recommenced operations in 2019.
South Africa, the southernmost country on the African continent, renowned for its varied topography, great natural beauty, and cultural diversity, all of which have made the country a favoured destination for travelers since the legal ending of apartheid (Afrikaans: apartness, or racial separation) in 1994.
South Africas remotenessit lies thousands of miles distant from major African cities such as Lagos and Cairo and more than 6,000 miles (10,000 km) away from most of Europe, North America, and eastern Asia, where its major trading partners are locatedhelped reinforce the official system of apartheid for a large part of the 20th century. With that system, the government, controlled by the minority white population, enforced segregation between government-defined races in housing, education, and virtually all spheres of life, creating in effect three nations: one of whites (consisting of peoples primarily of British and Dutch [Boer] ancestry, who struggled for generations to gain political supremacy, a struggle that reached its violent apex with the South African War of 18991902); one of Blacks (consisting of such peoples as the San hunter-gatherers of the northwestern desert, the Zulu herders of the eastern plateaus, and the Khoekhoe farmers of the southern Cape regions); and one of Coloureds (mixed-race people) and ethnic Asians (Indians, Malays, Filipinos, and Chinese). The apartheid regime was disdained and even vehemently opposed by much of the world community, and by the mid-1980s South Africa found itself among the worlds pariah states, the subject of economic and cultural boycotts that affected almost every aspect of life. During this era the South African poet Mongane Wally Serote remarked,
There is an intense need for self-expression among the oppressed in our country. When I say self-expression I dont mean people saying something about themselves. I mean people making history consciously.We neglect the creativity that has made the people able to survive extreme exploitation and oppression. People have survived extreme racism. It means our people have been creative about their lives.
Eventually forced to confront the untenable nature of ethnic separatism in a multicultural land, the South African government of F.W. de Klerk (198994) began to repeal apartheid laws. That process in turn set in motion a transition toward universal suffrage and a true electoral democracy, which culminated in the 1994 election of a government led by the Black majority under the leadership of the long-imprisoned dissident Nelson Mandela. As this transition attests, the country has made remarkable progress in establishing social equity in a short period of time.
South Africa has three cities that serve as capitals: Pretoria (executive), Cape Town (legislative), and Bloemfontein (judicial). Johannesburg, the largest urban area in the country and a centre of commerce, lies at the heart of the populous Gauteng province. Durban, a port on the Indian Ocean, is a major industrial centre. East London and Port Elizabeth, both of which lie along the countrys southern coast, are important commercial, industrial, and cultural centres.
Today South Africa enjoys a relatively stable mixed economy that draws on its fertile agricultural lands, abundant mineral resources, tourist attractions, and highly evolved intellectual capital. Greater political equality and economic stability, however, do not necessarily mean social tranquility. South African society at the start of the 21st century continued to face steep challenges: rising crime rates, ethnic tensions, great disparities in housing and educational opportunities, and the AIDS pandemic.
South Africa is bordered by Namibia to the northwest, by Botswana and Zimbabwe to the north, and by Mozambique and Swaziland to the northeast and east. Lesotho, an independent country, is an enclave in the eastern part of the republic, entirely surrounded by South African territory. South Africas coastlines border the Indian Ocean to the southeast and the Atlantic Ocean to the southwest. The country possesses two small subantarctic islands, Prince Edward and Marion, situated in the Indian Ocean about 1,200 miles (1,900 km) southeast of Cape Town. The former South African possession of Walvis Bay, on the Atlantic coast some 400 miles (600 km) north of the Orange River, became part of Namibia in 1994.