Gold miner Village Main Reef (VMR) has confirmed that, owing to the operating and financial constraints experienced by it, its China-based parent company Heaven Sent Gold has postponed its planned listing on the Hong Kong Stock Exchange. VMR CEO Jeff Dong said the postponement of the listing was owing to mined volume and recovered grade at both VMR’s Tau Lekoa and Kopanang underground gold mines, in South Africa, being below expectation; the impact of load-shedding on production and operating profit; and four seismicity-related fatalities recorded at Tau Lekoa in December.
