NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CAUSSA CAPITAL CORPORATION
TSE SYMBOL: CAU
DECEMBER 2, 1999
Caussa Acquires Gold Recovery Operation in South Africa
TORONTO, ONTARIO--Caussa is pleased to announce that it has
acquired a 66.7% interest in Barberton Gold (Pty) Ltd., a gold
recovery operation situated in the Barberton gold district in the
Province of Mpumalanga, South Africa.
Barberton Gold owns and operates a 400 tonnes per day capacity
gold recovery plant situated on Avgold Limited's Fairview Mine
property, where it recovers gold from mine tailings. During the
fifteen months ended June 30, 1999, under South African GAAP,
Barberton Gold generated sales revenue of R5,429,150
(Can.$1,298,436) while net income was R1,375,382 (Can.$328,938).
A technical evaluation of the Barberton Gold operation suggests
that cash flow can be increased through the implementation of
high-pressure water removal of the tailings dump face. This
initiative will be implemented shortly.
Caussa acquired its direct 66.7% interest in Barberton Gold from
Rappa Holdings (Pty.) Ltd. in exchange for its indirect 24.75%
interest in Rappa.
Also in South Africa, Caussa is developing the Witkrans diamond
property located in the Ventersdorp region of the North West
Province. Construction of a plant to recover diamonds from the
Witkrans property is currently underway and should be completed by
February 2000.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Ref: Anthony D. de Werth,
Chairman & CEO
(416) 861-9940
(416) 861-0057 (FAX)
Website: caussacapital.com
or
Robert Yeoman,
Vice President
(416) 861-9940
(416) 861-0057 (FAX)
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
INDUSTRY: MNG
SUBJECT: NWS
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