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SOUTH AFRICA'S DAD TO BUY 14% STAKE IN EMPORER MINES LTD.
AsiaPulse News, December, 2002
PERTH, Dec 16 Asia Pulse - South African company Durban Roodepoort Deep Ltd (DRD) has agreed to purchase a 14 per cent stake in Sydney-based Fijian gold miner Emperor Mines Ltd (ASX:EMP).
DRD will pay 75 cents per Emperor share, a nine per cent premium to the weighted average share price for the 30 day trading period before the agreement was signed.
At 1249 AEST, Emperor shares were three cents softer at 75 cents.
Emperor said it welcomes DRD's investment and is pleased to have a growth oriented mining company as its major shareholder.
"Emperor looks forward to working closely with DRD management where common objectives and synergies are believed to exist," it said.
Emperor recently began a phase two expansion at its Vatukoula...
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