Galane Gold completes acquisition of Galaxy Gold
Thursday, November 26, 2015
Mupane Gold Mine
Galane Gold, which owns the Mupane Gold Mine, located approximately 50 kilometres from Francistown in northeastern Botswana, said it will make an offer to all other shareholders of Galaxy to acquire the remaining shares on economically equivalent terms.
Chief executive officer, Nick Brodie said they are pleased to have completed the acquisition noting it added what they believe is a significant asset to the company’s portfolio.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...