NEWS ANALYSIS: Giyani Gold hopes it is a case of third time lucky
GIYANI Gold Corporation — which has just listed on the JSE’s AltX sector — will be the third company in the past 30 years to try to make money out of marginal gold resources located in north-east Limpopo.Two previous attempts by other companies failed badly and it remains to be seen what the latest management team led by executive chairman Duane Parnham — a seasoned Canadian mining entrepreneur — will be able to achieve, particularly given the current dismal gold price environment.These assets — historic, small gold mines and deposits like Klein Letaba, Frankie, Birthday, Horseshoe and Louis Moore — are situated on what is known geologically as a greenstone belt.The key takeaway point is that gold deposits hosted in greenstone belts are smaller and more erratic in nature than the huge, continuous gold seams of the Witwatersrand Series, which has hosted virtually all South Africa’s successful, major gold mines.The only successful gold mine set up on a greenstone belt in South Africa ...
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