Byline: Allan Seccombe
Wesizwe up on news of R91m China funds ALLAN SECCOMBE Resources Editor WESIZWE shares rose strongly yesterday after it said the Bank of China had provided R91m in interim funding for its platinum mining project, while a R6,6bn deal with a Chinese consortium draws to an end.
Wesizwe shares hit a high of 179c on the JSE, an 8,5% gain on news that appears to indicate the funding deal for the project, which will see the consortium take a 51% stake in Wesizwe, is on track.
Wesizwe has been hit by a bitter boardroom battle that first claimed the scalp of CEO Mike Solomon, then saw him reinstated. It is also engaged in a messy shareholder …