Great Basin Gold Ltd. (fka GBGLF)

[amarksp]

[miningmx.com] -- GREAT Basin Gold, which is digging for gold in the US and South Africa, said it would sell 13% in the company to a South African company, Tranter Gold, by March for R260m in an empowerment proposal, Bloomberg News reported.


"We can kill two birds with one stone,'' Dippenaar told Bloomberg News at the African Mining Congress in Zambia. "We comply with the legislation and we can put the proceeds toward Burnstone," he said.

The proceeds will be used to fund part of the mine's R1bn development, Dippenaar said.