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Johannesburg - Exploration holding company Village Main Reef Gold Mining Company [JSE:VIL] has made a R150m bid for DRDGOLD [JSE:DRD] 74% stake in the Blyvooruitzicht Gold Mining Company (Blyvoor), it emerged on Tuesday.
Mid-tiered gold producer DRDGold said it had received and accepted an expression of interest from Village for the acquisition of all of DRDGold's Blyvoor ordinary shares and all amounts owed to DRDGold by Blyvoor.
The purchase consideration will be settled through the issue of Village shares to DRDGold.
Mid-tiered gold producer DRDGold said it had received and accepted an expression of interest from Village for the acquisition of all of DRDGold's Blyvoor ordinary shares and all amounts owed to DRDGold by Blyvoor.
The purchase consideration will be settled through the issue of Village shares to DRDGold.
Shares of junior miner Village Main Reef jumped 5.45% at R1.74 on Tuesday morning, while those of DRDGold dropped nearly 4% to R5.40.
