Creasy’s White Rivers in Africa JV

Private operator White Rivers Exploration, majority owned by Mark Creasy, has joined Harmony Gold Mining Company in an exploration and development joint venture for its Beisa project in South Africa.

Mr Creasy holds a 64 per cent stake in the non-listed White Rivers, while Harmony is South Africa’s third largest gold miner.

White Rivers, which was founded in Johannesburg in 2007 and is now based in Perth, will have a 65 per cent stake in the venture and will manage and fund exploration activities to a pre-feasibility study.

The company’s holding will drop to 49 per cent after a bankable feasibility study is completed.

Harmony controlled exploration areas neighbouring the Beisa project will also be included in the venture.

White Rivers chairman Neil Warburton said the partnership was a major step forward on the company’s path to production of South African prospective gold projects.

“If the future exploration program proves up significant gold resources, as expected, then access to Harmony’s neighbouring infrastructure will enable the mining and production of the EJV resources to be fast tracked,” he said.

“This EJV has the potential to position White Rivers as a substantial mining operation.

“We will be looking at a number of funding options as the venture progresses, including potential listings on the Johannesburg and London stock exchanges.”