DRD - DRDGOLD Limited - Vatukoula Sale Process Com
DRD
DRDD
DRD - DRDGOLD Limited - Vatukoula Sale Process Complete
DRDGOLD Limited
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
ARBN number: 086 277 616
NASDAQ trading symbol: DROOY
("DRDGOLD" or "the company")
VATUKOULA SALE PROCESS COMPLETE
Management of the Vatukoula Gold Mine today confirmed that the sale
of the Vatukoula mine and associated assets to Westech Gold Ltd had
been completed.
Emperor Mines Limited (a subsidiary of DRDGOLD) has now completed
the transfer of ownership of 100% of the shares in the Australian
incorporated companies which in turn own the Fijian assets of the
Emperor Group.
With immediate effect, all assets and liabilities of the Emperor
Fijian operations are transferred to Westech Gold.
Brad Gordon, Chief Executive Officer of Emperor Mines Limited, said
that the company was pleased to confirm the sale of all Fijian
company assets, which would significantly stem the cash flow drain
on the Emperor group occasioned by the ongoing costs of care and
maintenance at Vatukoula.
"Our team will now focus solely on the ongoing restructuring
process, with a further announcement on the group restructure due
in the coming days", Mr. Gordon said.
Johannesburg
28 March 2007
Sponsor
Standard Bank
Date: 28/03/2007 11:51:51 Produced by the JSE SENS Department.
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