"Tranter Gold
Tranter developed a new broad-based economic empowerment group, Tranter Gold (Pty) Limited ("Tranter Gold") which was the vehicle used to invest in Great Basin Gold Limited ("GBG"). Tranter obtained a controlling interest in the consortium and was instrumental in the selection of the other broad-based economic empowerment parties involved in the consortium. Tranter is a firm believer in involving new entrants in each of its investments that encompass the spirit of diversity and the broad-based principles envisaged by the broad-based black socio-economic empowerment ('BBBSEE') Codes in South Africa. In selecting participants for the consortium, Tranter considered the skills contribution of each of the participants as well as the operational relevance to GBG.
In August 2007, Tranter Gold, through financial support from Goldfields and a loan from Investec, concluded an empowerment transaction in which it acquired 19.9 million new GBG shares equating, as at September 2007, to about 13% interest in GBG or 26% see-through interest in the South African Burnstone project, and thereby making Tranter Gold a majority single shareholder in the company. GBG owns the Burnstone Gold Project located near the town of Balfour in the Mpumalanga Province of South Africa as well as the Hollister project in the USA and has further interests in Mozambique and Tanzania. Investec has a 10% interest in Tranter Gold. The objective is to grow Tranter Gold into an operational gold mining company capable of an independent listing on a stock market..."
tranterholdings.com/TH/index.php/tranter-gold
Cheers,
Golden~Polar~Bear
