Village receives approval for the acquisition of Cons Murch

Village today announced that it haflowsheet of a copper mill flotation plants received Section 11 approval from the South African Department of Mineral Resources for the acquisition of 74% of Consolidated Murchison Mine, which owns the Cons Murch Mine, from To The Point Growth Specialists.

Village shareholders approved the acquisition of Cons Murch from TTP during March 2011. TTP initially acquired Cons Murch from Metorex in 2010.

On acquisition Metorex held an old order mining right and Village assumed responsibility to obtain conversion of the old order mining right to a new order mining right, before application could be made to the DMR for section 11 approval for the acquisition from Metorex.

Section 11 approval was the last remaining condition to the acquisition by TTP and the subsequent acquisition by Village of Cons Murch from Metorex.

Marius Saaiman, joint CEO said: “This is an important milestone for Village as we are now the legal owners of the new order mining right allowing us full flexibility in dealing with this asset. The DMR was most helpful during the conversion process and we thank them for their support and guidance throughout this important process.”