Caussa Acquires Gold Recovery Operation in South Africa.TORONTO--(BUSINESS WIRE)--Dec. 2, 1999-- Caussa Capital Corpo(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAU (Controlled Access Unit) An intelligent hub from IBM for Token Ring networks. Failed nodes are identified by the hub and reported via IBM's LAN Network Manager software. .) Caussa is pleased to announce that it has acquired a 66.7% interest in Barberton Gold (Pty) Ltd., a gold recovery operation situated in the Barberton gold district in the Province of Mpumalanga, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Barberton Gold owns and operates a 400 tonnes per day capacity gold recovery plant situated on Avgold Limited's Fairview Mine property, where it recovers gold from mine tailings Tailings (also known as tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction of an ore. . During the fifteen months ended June 30, 1999, under South African GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). , Barberton Gold generated sales revenue of R5,429,150 (Can.$1,298,436) while net income was R1,375,382 (Can.$328,938). A technical evaluation of the Barberton Gold operation suggests that cash flow can be increased through the implementation of high-pressure water removal of the tailings dump face. This initiative will be implemented shortly. Caussa acquired its direct 66.7% interest in Barberton Gold from Rappa Holdings (Pty.) Ltd. in exchange for its indirect 24.75% interest in Rappa. Also in South Africa, Caussa is developing the Witkrans diamond property located in the Ventersdorp region of the North West Province. Construction of a plant to recover diamonds from the Witkrans property is currently underway and should be completed by February 2000. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. |
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