The proceeds will be invested into RR, which is producing encouraging results. Syama's progress is on track and on budget. We'll make believers of the doubters. He concedes that if he were a stranger to Syama he might also be a doubter, but being in the picture, he is encouraged. Flack reports that news from the Loulo prospect was all good.
Production starts next year.
The feasibility study at Golden Ridge in Tanzania is due for completion in July and looks promising. RR's total attributable resource measures 7.8-million ounces of gold. There are 183 prospects at present. Randgold's loans to RR will be converted into equity, with other shareholders being offered a clawback as per London's listing regulations. Back home, Crown Consolidated Gold Recoveries completed its maiden quarter with a clear strategy of creating a best-practices marriage out of the components RMP Properties and Knights.