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April transactions index increase welcome, but investors wait and see
Published: 08 May 24
Financial infrastructure services company BankservAfrica's Economic Transactions Index (BETI) increased by 0.6% month-on-month in April to reach an index level of 134.2, which is the highest level in eight months. While loadshedding, which has remained suspended since the end of March, may have had a positive impact on economic activity in April, the upcoming elections might have also played a role, the company noted.
Gold bars April was strong for gold but ‘staglaftion’ concerns abound – WGC
Published: 08 May 24
According to the World Gold Council (WGC), gold had another good month in April, posting a 4% gain and ending the month at $2 307/oz. “Unlike March, gold finished off its intra-month high from probable buyer reticence and profit-taking, reflected in falling Chinese premia, lower Indian imports and flat-lining Comex positioning.
West African progresses bulk earthworks, tailings dam construction at Kiaka
Published: 08 May 24
ASX-listed West African Resources has made significant progress on its Kiaka gold project, in Burkina Faso, as construction continues to advance on the 219 000 oz/y operation. In particular, the company is nearing completion of a water storage dam and bulk earthworks for a mining services area.
Equites starts wheeling power from distribution centre to head office in Cape Town
Published: 08 May 24
Property developer Equites Property Fund has officially started wheeling renewable energy onto Cape Town’s grid from solar panels atop its newly built distribution centre in Parow. The company is among the first to begin wheeling energy for the municipal grid, with its current offtaker being a commercial office block on the Foreshore, where Equites is headquartered.
Sovereign reports ‘excellent’ graphite testwork results
Published: 08 May 24
ASX- and Aim-listed Sovereign has reported “excellent” results from graphite testwork completed at multiple independent laboratories in Australia, Canada and South Africa using a conventional flowsheet that was consistent across all laboratories. The company believes this confirms its ability to produce a high-quality graphite concentrate.
Black Cat releases updated study for ‘cash cow’ Paulsens Black Cat releases updated study for ‘cash cow’ Paulsens
Published: 08 May 24
ASX-listed Black Cat Syndicate has released the May 2024 restart study for the Paulsens gold mine, which details substantially higher returns than the November study on the back of a stronger gold price. The latest study is based on a gold price of A$3 500/oz, compared with A$2 900/oz in November 2023, which bolstered operating cash flow by 81% to A$201-million.
Port of Durban container operations TPT to continue to invest in Durban Pier 2 while legal spat over private partner plays out
Published: 08 May 24
South Africa’s Transnet Port Terminals (TPT) says it will continue to invest in Durban Container Terminal (DCT) Pier 2 while legal proceedings around its selection of International Container Terminal Services (ICTSI), of the Philippines, for a 25-year partnership at what is South Africa’s largest container terminal. Rival bidder AP Moller–Maersk, of Denmark, is contesting Transnet selection of ICTSI, which was made in July last year, calling the award unlawful and invalid.
Boss prepares for first Honeymoon sales
Published: 08 May 24
Commissioning of the Honeymoon uranium project, in south Australia, is proceeding to plan, with key metrics exceeding feasibility study forecasts, Boss Energy MD Duncan Craib said on Wednesday. The outperformance, he said, was reflected in the results of the uranium-rich pregnant leach solution from the wellfields, ion exchange (IX) column resin loading and high-grade IX column eluate.
Airlink adopting IATA’s New Distribution Capability
Published: 08 May 24
South African regional and domestic airline Airlink has announced that it is to implement the New Distribution Capability (NDC) for its transactions with the travel trade, with effect from July 31 this year. NDC was launched by the International Air Transport Association (IATA) and is a data exchange format, using Offer and Order management processes to enable airlines to create and distribute relevant offers to customers, irrespective of the distribution channel. NDC is supported by the travel industry. It replaces the around 40-year-old Electronic Data Interchange for Administration, Commerce and Transport protocol.
Tietto urges shareholders to accept Zhaojin bid or sell their shares
Published: 08 May 24
Hong Kong-based Zhaojin Capital has obtained enough acceptances for its off-market takeover bid to control the composition of ASX-listed Tietto Minerals’ board. As of May 6, Zhaojin held about 74.85% of Tietto's voting power.
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