Pamodzi Gold Limited - Press release - Pamodzi Gold Orkney (Pty) Ltd (in provisional liquidation) and China African Precious Metals (Pty)

Release Date: 25/10/2012 10:10
Code(s): PZG
 
Wrap Text
Press release - Pamodzi Gold Orkney (Pty) Ltd (in provisional liquidation) and China African Precious Metals (Pty)

Pamodzi Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/013039/06)
Share code: PZG
ISIN: ZAE000088563
("Pamodzi Gold" or "the Company")

JOINT ANNOUNCEMENT - PAMODZI GOLD ORKNEY (PTY) LTD (IN PROVISIONAL LIQUIDATION)
AND CHINA AFRICAN PRECIOUS METALS (PTY) LTD

Johannesburg – Thursday, 25 October 2012

The Joint Provisional Liquidators of Pamodzi Gold Orkney (Pty) Ltd (in provisional liquidation) (“PGO”)
and China African Precious Metals (Pty) Ltd (“CAPM”) are pleased to announce that all conditions have
been met for the acquisition by CAPM of all of the assets of PGO relating to its Orkney gold mine
(“Mine”) and that the agreement entered into in August 2011 has now been successfully completed.

CAPM is 74% owned Superb Gold Ltd (“Superb Gold”) with 26% owned by a broad based black
economic empowerment consortium led by Mr. Elias Khumalo.

A phased implementation plan has been proposed by CAPM in respect of the Mine and various studies in
this regard are ongoing. CAPM now exercises control over all the Mine assets and the day to day
operations at the Mine.

For more details contact:
Johan Engelbrecht on behalf of the Joint Provisional Liquidators
+27 (0)12 996 1043
CAPM
+852 2504 2333

Transaction advisors to the Joint Provisional Liquidators:

Standard Bank

Legal advisors to the Joint Provisional Liquidators:

Bowman Gilfillan

Legal advisors to CAPM:

DLA Cliffe Dekker Hofmeyer

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