Taung Gold International Ltd – developing two new major gold mines in Africa’s pre-eminent gold country
Taung Gold is a gold developer, founded and incorporated in South Africa in 2004 by mining entrepreneurs Dr David Twist and Rudolph de Bruin. The company’s fundamental strategy remains to acquire gold properties that have the potential to be developed into world-class operating mines.
Three years after incorporation, the company entered into agreements which resulted in the company acquiring its two flagship projects: Evander and Jeanette. Together, these projects have a total Measured and Indicated Mineral Resource of more than 15 million ounces of gold and a recently declared Total Mineral Reserve of more than 11 million ounces of gold. The Evander Project now stands poised to be developed into a high-grade, low cost and long life gold mine. The Jeanette Project is still in the feasibility study phase and also has the potential to become a major gold producer once developed.
In 2011, when the South African company was acquired by a Hong Kong listed company, these assets were listed on the Hong Kong Stock Exchange creating a new, gold focused entity, Taung Gold International Limited.
The company’s flagship projects are held in South Africa by a, not wholly-owned subsidiary of Taung Gold International Limited, Taung Gold (Proprietary) Limited. The South African entity is fully compliant in terms of South African legislation, including that relating to Black Economic Empowerment (BEE). The company is fully BEE compliant with its BEE partner (Sephaku Gold Holdings) owning 24.02% with the Taung Gold Employee Participation Plan owning a further 1.98% of the company
