Miner RG Gold is said to consider stake sale to fund growth
Kazakhstan miner RG Gold is considering a minority stake sale to help fund the development of projects in the central Asian country, according to people familiar with the situation.
RG Gold is working with advisers to sound out investor interest in a deal that could value the company at between $1-billion and $2-billion, two of the people said, asking not to be named discussing a private matter.
Deliberations are at early stage, and may not lead to a transaction, the people said.
A representative from RG Gold wasn’t immediately able to provide a comment when contacted by Bloomberg.
Gold prices have been on a tear this year, surging by almost 30%, on central-bank buying, easing US monetary policy and heightened geopolitical risks. They’ve pulled back in recent weeks as the dollar strengthened following Donald Trump’s election win, but banks including Goldman Sachs Group Inc. and UBS Group forecast the rally will continue next year.
RG Gold is developing the Raygorodok deposit in the Akmola region, which is estimated to have reserves of 100 t, making it one of the largest single-gold deposits in Kazakhstan, according to the company’s website.
The miner is 65% owned by Verny Capital, a Kazakh company that invests in natural resources, telecommunications and consumer goods and services among other sectors, RG Gold’s website shows. Resources Capital Funds, a private equity firm focused on mining, holds the rest.
Comments
Research Reports
Latest Multimedia
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
