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VIL
VIL
VIL - Village Main Reef to place 10 million shares to fund planned expansion
of Consolidated Murchison
Village Main Reef Gold Mining Company (1934) Limited
Incorporated in the Republic of South Africa
(Registration Number 1934/005703/06)
Share code on the JSE: VIL
ISIN: ZAE000007720
("Village" or the "company")
Village Main Reef to place 10 million shares to fund planned expansion of
Consolidated Murchison
Village today announced that it intends to place 10 million new ordinary
shares with institutional investors by way of a private placement. It is
expected that the ordinary shares will be issued at the current trading price
and that the placement will be implemented over the next 30 days. The shares
will be freely tradable upon issue.
A portion of the capital raised through the placement will be advanced to
Consolidated Murchison Mine (Proprietary) Limited (`Cons Murch`) to fund the
further expansion of the Cons Murch Mine as contemplated in the circular to
Village shareholders dated 2 December 2010.
The balance of the capital to be raised will be used to fund Village`s
working capital requirements.
An announcement providing shareholders with further information will be made
in due course.
Bryanston
13 January 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
Bernard Swanepoel
Village Chief Executive Officer
083 303 9922 (mobile)
Bernard@villagemainreef.co.za
Louise Brugman
Vestor, Media and Investor
Relations
011 787 3015 (office)
083 594 1186 (mobile)
louise@vestor.co.za
Notes to editors
About Consolidated Murchison
Located near Gravelotte, in the Limpopo province, Consoildated Murchison is
situated on one of the largest known antimony ore bodies. It is currently one
of the largest known antimony orebodies in the world. Together with antimony,
the mine produces gold from its three operating shafts, Athens, Monarch and
Beta. The Cons Murch mine is a 1.3 million ounce equivalent gold deposit
which can be broken down into a South African Mineral Resource Committee
compliant resource of 750,272 ounces of gold at an average grade of 2.45
grams per tonne (including 8,970 ounces in the measured category), and
200,729 tonnes of antimony at an average grade of 2.10%.
Date: 13/01/2011 07:05:18 Produced by the JSE SENS Department.
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