Siyakhula Sonke Empowerment Corporation

SSC has become aware, as recently as March 2019, that the PIC will be funding this Group/Consortium in the amount of R350 million for their transaction.

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 matter of resolving the sale of the Barbrook and Lily gold mines has had too many delays given the urgency of the matter, that Lily Mine is of public knowledge and interest and that the matter will be finalized - Mpumalanga High Court.

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

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.