Prior to the latest transaction, BCX Gold owned 88.77% in Gold One. The acquisition provides BCX with a right, but not the obligation, to compulsorily acquire any remaining shares in Gold one.
BCX Gold now has a six month period, from 19 July 2013, to make an offer to acquire the remaining stake in the gold mining company.
The shareholders of BCX Gold include Baiyin Non-Ferrous Group Co, a subsidiary of the CITIC Group; China-Africa Development Fund, a subsidiary of the China Development Bank; and Long March Capital Group.
Gold One is a mid-tier mining group with gold operations and gold and uranium prospects across Southern Africa, and is focused on developing and mining low technical risk, high margin precious metal resources in diversified jurisdictions.
