Wrap Text
Significant milestones reached in terms of the Altar transaction
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”)
Significant milestones reached in terms of the Altar transaction
Johannesburg, 25 September 2018. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
is pleased to advise that significant milestones have been reached with the
Arrangement Agreement to unlock value at its Altar copper-gold project with Regulus
Resources Inc. (Regulus) and a newly formed subsidiary of Regulus, Aldebaran
Resources Inc. (Aldebaran), to create a strategic partnership, as per the
announcement on 29 June 2018.
The milestones include 99.8% of votes cast by Regulus shareholders being in favour
of the Arrangement at its annual and special meeting held on 21 September 2018, as
well as obtaining the requisite final court order from the Alberta Court of Queen's
Bench. The closure of the Arrangement is subject to the satisfaction of customary
closing conditions, including receipt from the TSX Venture Exchange (TSX-V) of
conditional listing approval for the Aldebaran shares.
As previously announced, the Arrangement sees Sibanye-Stillwater benefit from
upfront proceeds (US$15 million), while retaining a direct interest in the project
of either 40% or 20% (should Aldebaran exercise its additional earn in option) as
well as an indirect exposure though 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.
Closure and implementation of the transaction is dependent on the successful listing
of Aldebaran Resources on the TSXV which, subject to regulatory approval by the
TSXV, is anticipated to occur during the fourth quarter of 2018.
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 pleased that these
significant milestones has been achieved and recognize that it is an important step
towards closing the transaction. The support of the Regulus shareholders
demonstrates the value creation that is expected to be realized through the
implementation of this transaction, unlocking the upside potential of the Altar
Project by providing it with the focus from the experienced Aldebaran team.”
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: 25/09/2018 10:34:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
