Johannesburg - Precious metals miner Great Basin Gold [JSE:GBG]
said it suspended operations at its Burnstone mine in South Africa as it was
unable to arrange for the working capital for the mine.
The miner had initiated a strategic review last month to
consider options such as a sale of the company.
Great Basin said it was looking to finance immediate costs
of $30m - $40m related to a shut-down at the mine.
The company also owns the Hollister mine in Nevada.
Great Basin shares closed at 23.5 Canadian cents on Tuesday on the Toronto Stock Exchange.