Wrap Text
Successful closure of the Altar transaction with Regulus Resources
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)
Successful closure of the Altar transaction with Regulus Resources
Johannesburg, 26 October 2018. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
is pleased to advise that the transaction with Regulus Resources Inc. (Regulus) and
the newly formed subsidiary of Regulus, Aldebaran Resources Inc. (Aldebaran) to
unlock value at its Altar copper-gold project, has successfully been concluded. The
Company refers shareholders to the announcements made about this strategic
partnership on 29 June 2018 and 25 September 2018.
Sibanye-Stillwater benefits from upfront proceeds (US$15 million) while retaining a
direct interest in the Altar project of either 40% or 20% (should Aldebaran exercise
its additional earn in option) as well as an indirect exposure through its 19.9%
shareholding in Aldebaran. Sibanye-Stillwater will also gain indirect exposure to
the Argentine exploration assets that Aldebaran will be acquiring from Regulus as
part of the Arrangement, including the Rio Grande and Aguas Calientes projects,
amongst others.
The transaction is effective as at 25 October 2018.
Aldebaran has issued an aggregate of 15,449,555 Aldebaran shares to Sibanye-
Stillwater, representing 19.9% of the current 77,635,957 issued and outstanding
Aldebaran Shares, and made an upfront cash payment of US$15 million to Sibanye-
Stillwater, all in accordance with the JV Agreement. The Aldebaran Shares are
expected to begin trading on the TSX Venture Exchange under the ticker symbol "ALDE"
in approximately 5 business days.
For more information regarding the transaction, please refer
https://www.sibanyestillwater.com/investors/transactions/altar and to
www.regulusresources.com for the related Regulus announcements.
Sibanye-Stillwater CEO, Neal Froneman commented: “We are excited about this strategic
partnership which unlocks immediate value for this greenfields exploration project,
while enabling the experienced Aldebaran team to explore the upside potential of the
Altar project by providing it with the focus they bring.”
Ends.
Contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the
“safe harbour” provisions of the United States Private Securities Litigation Reform
Act of 1995. All statements other than statements of historical fact included in
this announcement may be forward-looking statements. Forward-looking statements may
be identified by the use of words such as “will”, “would”, “expect”, “may”, “could”
“believe”, “anticipate”, “target”, “estimate” and words of similar meaning. These
forward-looking statements, including among others, those relating to our future
business prospects, financial positions, ability to reduce debt leverage, business
strategies, plans and objectives of management for future operations and the
anticipated benefits and synergies of transactions, are necessarily estimates
reflecting the best judgement of our senior management. Readers are cautioned not
to place undue reliance on such statements. Forward looking statements involve a
number of known and unknown risks, uncertainties and other factors, many of which
are difficult to predict and generally beyond the control of Sibanye-Stillwater that
could cause Sibanye-Stillwater’s actual results and outcomes to be materially
different from historical results or from any future results expressed or implied
by such forward-looking statements. As a consequence, these forward-looking
statements should be considered in light of various important factors, including
those set forth in the Group’s Annual Integrated Report and Annual Financial Report,
published on 30 March 2018, and the Group’s Annual Report on Form 20-F filed by
Sibanye-Stillwater with the Securities and Exchange Commission on 2 April 2018 (SEC
File no. 001-35785). These forward-looking statements speak only as of the date of
this announcement. Sibanye-Stillwater expressly disclaims any obligation or
undertaking to update or revise these forward-looking statements, save as required
by applicable law.
Date: 26/10/2018 10:27:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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