https://www.engineeringnews.co.za

Sibanye concludes WCC due diligence, revised term sheet expected

2nd February 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – A revised term sheet for Sibanye Gold’s proposed refinancing of Waterberg Coal Company (WCC) is expected to emerge after the gold producer completed its legal, technical and financial due diligence.

WCC on Tuesday said in a quarterly update that Sibanye remained “desirous” of the deal; however, it planned to alter the terms proposed in the transaction with Standard Bank noteholders, which held the current funding facility.

“It is contemplated that, once the variation with the noteholders has been documented, a revised term sheet will be entered into with all of the parties,” WCC said.

In September last year, WCC and its subsidiary Firestone Energy requested a month-long extension to its voluntary suspension, which had been in effect since March 19, to allow Sibanye more time to undertake a due diligence and provide formal transaction documentation for the proposed deal.

At the time of WCC’s quarterly report, no variation had been completed or documented.

Edited by Creamer Media Reporter

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.064 1.125s - 191pq - 2rq
Subscribe Now