Kareevlei Mining in Business Rescue

By John Jeffay / March 02, 2023 / www.idexonline.com / Article Link

(IDEX Online) - British miner BlueRock Diamonds has put its Kareevlei Mining subsidiary into business rescue amid mounting debts.It follows the suspension of its shares on the AIM last week.Kareevlei Mining currently owes $4.1m to Teichmann South Africa, the construction and mining service group, though it said it had paid its February salaries and diesel bill.Business rescue temporarily protects the company from legal action.Johannesburg-based Engaged Business Turnaround is helping the company draw up rescue plans.Last April and May processing production at the mine was cut by over a third because of unexpectedly high rainfall. Kareevlei CEO Meiring Burger stepped down in July.But in a trading update last month it said it was now back to normal production levels.We have again approached BlueRock for comment.

Recent News

Upgrades continue for 2024 gold price target...

April 22, 2024 / www.canadianminingreport.com

Gold stocks edge up as weak equities offset metal rise

April 22, 2024 / www.canadianminingreport.com

Major investment banks make major gold price upgrades

April 15, 2024 / www.canadianminingreport.com

Gold stocks near flat as equities dip

April 15, 2024 / www.canadianminingreport.com

Revenue estimates for gold stocks have remained relatively flat

April 08, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok