Lily mine

The original change of ownership for Lily mine from Vantage Goldfields (SA) to Siyakhula Sonke Corporation (SSC) subsidiary, Flaming Silver, was exciting but the company’s inability to raise the necessary finance saw shareholders question the deal.

The battle of who will take ownership of Vantage Goldfields’ Lily and Barbrook mines is completely over, with no more hurdles left between now and reopening Lily mine.

The potential to reopen Barberton’s Lily and Barbrook gold mines is really looking positive now that owner Vantage Goldfields Ltd has accepted to sell 100% of its shares and claims in its South African subsidiary to a Level 1 BB-BEE company.

Taung Gold has made a offer to the joint BRPs of Vantage Goldfields, Makonjwaan Imperial Mining Company and Barbrook Mines to acquire Lily and Barbrook.

SSC and its subsidiary, Flaming Silver Trading 373, hereby give an update in light of a judgment handed down on 17 July 2019 at the Mbombela High Court.

Judgement was handed down in the Mbombela High Court on 17 July 2019 in the matter between Flaming Silver and Vantage Goldfields SA, or VGSA.

The fate of the Lily and Barbrook gold mines in Mpumalanga hang in the balance as Siyakhula Sonke Empowerment Corporation (SSC Group) and its subsidiary Flaming Silver, have turned to the Mpumalanga High Court to resolve a dispute with Vantage Goldfields South Africa regarding a sale of shares agreement for the two mines

Mining Review Africa editor Laura Cornish discusses two positive milestone events which took place in South Africa's gold mining industry last week. For more VLOGS...

The much publicised Lily gold mine in Barberton, closed since a pillar collapse in February 2016, will soon reopen its doors which a new owner who has major aspirations for the mine and the rest of the assets previous owner Vantage Goldfields held.

Earlier this month, the mine suffered a fall of ground, but was able to rescue all 87 workers . Three of the mine’s employees...