Company News: Taung Gold
Updated: 03 Apr 2012
Taung Gold is a gold exploration and development company focused on developing assets in South Africa. The company holds rights to an impressive portfolio comprising two flagship projects, Evander 6 Shaft/Twistdraai and Jeanette. Together with other greenfield development projects, all with significant upside potential, the company’s total mineral resources exceed 28.0 million high-grade ounces. Taung Gold has a BEE partner, Sephaku Gold Holdings (Pty) Limited (with a 26% interest in Taung Gold) and ownership of Taung Gold’s South African operations is fully BEE compliant.
Taung Gold was founded and incorporated in South Africa in 2004 by Dr David Twist and Rudolph de Bruin. The fundamental strategy, both then and now, was to acquire gold properties with the potential to be developed into world-class operating mines. In the years following incorporation, Taung evaluated various prospects and entered into agreements over two assets, Evander 6 Shaft/Twistdraai and Jeanette. These operations had seen some preliminary development by leading gold companies as far back as the 1950s. Operations had been suspended as the prevailing gold price and the overhead costs associated with their management by major gold groups made them uneconomic.
In September 2011 Taung Gold entered into a transaction with Wing Hing International (Holdings) Limited which saw Wing Hing become the largest shareholder in Taung Gold Limited. Wing Hing has subsequently changed its name to Taung Gold International Limited.
Taung Gold was founded and incorporated in South Africa in 2004 by Dr David Twist and Rudolph de Bruin. The fundamental strategy, both then and now, was to acquire gold properties with the potential to be developed into world-class operating mines. In the years following incorporation, Taung evaluated various prospects and entered into agreements over two assets, Evander 6 Shaft/Twistdraai and Jeanette. These operations had seen some preliminary development by leading gold companies as far back as the 1950s. Operations had been suspended as the prevailing gold price and the overhead costs associated with their management by major gold groups made them uneconomic.
In September 2011 Taung Gold entered into a transaction with Wing Hing International (Holdings) Limited which saw Wing Hing become the largest shareholder in Taung Gold Limited. Wing Hing has subsequently changed its name to Taung Gold International Limited.
Business Category Exploration; Mining
Regions of Operation Southern Africa
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Corner House Office Park 1st Floor Leslie Avenue
- East Fourways
- 2055
- South Africa
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