Investor willing to put more cash into troubled Mintails
The UK-based Harbour family’s investment vehicle Paige still sees value in problem-ridden gold producer Mintails
A long-standing investor in gold miner Mintails called Paige is willing to put more money into the company despite the litany of problems it faces, which have left shareholders of the Australian Securities Exchange-listed entity empty-handed. Paige is a vehicle of the UK-based Harbour family, of which very little is known. Seager Rex Harbour owns City Securities and in the past was an active shareholder in a couple of other offshore mining companies, Medusa Mining and Maudore Minerals. He is also the founder of a UK charitable organisation called the Harbour Foundation. Most of Mintails’ business is extracting gold from old dumps on the West Rand and toll treating material for other small gold miners at its Mogale Gold plants. It also has a small, shallow mine near Krugersdorp. It employs about 1,000 people, including contractors. Mintails has faced periodic financial crises over the past decade and complaints about environmental damage. The shares were suspended from trade in March...