pamodzi to buy up

Black-owned Pamodzi Gold, which listed on the JSE yesterday, expects to announce purchases early next year in its aim for double output within a year.

Black-owned Pamodzi Gold, which listed on the JSE yesterday, expects to announce purchases early next year in its aim for double output within a year.

The firm's shares started trading at R21,80, 18 percent higher than a private placement of shares last week. Chief executive Ken Steenkamp said the firm was looking to buy operating mines rather than exploration projects. He added that the company might also list on the Toronto stock exchange. - Reuters

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