Acquisition:
2022 / 08 / 05
Agreement:
Stream
Terms:
until 300 koz delivered
10% Au until 16 koz delivered each year,
5% thereafter
after 300 koz delivered
0.5% Au on first 100 koz per year until cumulative 10.32 Moz have been produced
Ongoing Payment:
$572/oz
The Blyvoor Gold mine is an underground operation located on the Witwatersrand gold belt, South Africa situated in a prolific gold mining area within the Carletonville Goldfield. The region hosts a number of well-established gold mines and is well serviced by all amenities. The mine is located approximately 14 km from the town of Carletonville, Gauteng Province, and about 80 km from Johannesburg, a major metropolitan centre.
Production commenced at the Blyvoor mine in 1942. In June 2021, an updated 43-101 Technical Report was filed on the Blyvoor mine and the report outlined a 22-year mine life. The project has 5.5 Moz of gold in Proven & Probable Mineral Reserves (18.84 Mt at 9.09 g/t Au) and 11.37 Moz of gold in Measured & Indicated Mineral Resources (25.8 Mt at 13.71 g/t Au) inclusive of Mineral Reserves (cut-off grade of 479 cm.g/t and 117 cm.g/t, respectively). The current processing plant has a capacity of 1,300 tpd.
March 2024
The group of mining companies that operate the Blyvoor gold mine in South Africa along with Rigel Resource Acquisition Corp. have entered into a definitive business combination agreement and financing agreement and that is expected to result in a publicly traded company expected to be named Aurous Resources. Net proceeds from the Aurous Transaction will enable the company to continue to invest in improvements designed to accelerate production growth and lower operating costs at the Blyvoor mine.
