Business
Lions Bay Announces Lions Bay Resource's Bid for Vantage Goldfields Group
Vancouver, British Columbia--(Newsfile Corp. - December 24, 2025) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") announces that the company's 47.39% owned associate, Lions Bay Resources PTY Ltd. ("LBR") has made an offer for all of the assets of the Vantage Goldfields Group ("Vantage").Vantage was placed in Business Rescue following a crown pillar collapse at the Lily mine in 2016 and comprises numerous mining leases in the Barberton region of South Africa with a historical.
About this update from Metals One Plc
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 24, 2025) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") announces that the company's 47.39% owned associate, Lions Bay Resources PTY Ltd. ("LBR") has made an offer for all of the assets of the Vantage Goldfields Group ("Vantage").","length":352,"tagName":"p"},{"type":"text","content":"Vantage was placed in Business Rescue following a crown pillar collapse at the Lily mine in 2016 and comprises numerous mining leases in the Barberton region of South Africa with a historical resource inventory of 4.5 million ozs of gold*, a central metallurgical complex and extensive underground development.","length":310,"tagName":"p"},{"type":"text","content":"LBR is managed by the Salamander Mining Group which includes a team of experienced mining industry professionals who together own 47.61% of LBR. The balance of 5% is held by London listed Metals One PLC which owns 19.1% of LBI and has been providing financial support for the Company's business plans.","length":305,"tagName":"p"},{"type":"text","content":"The Salamander team is headed by the former CEO of the Harmony Gold Group, Mr. Graham Briggs. It also includes Mr. Lloyd Birrell, a senior gold industry executive and Mr. Deon Robbertze an experienced CFO.","length":205,"tagName":"p"},{"type":"text","content":"LBR has offered $C46.5 million, for the Vantage assets comprising an initial payment of $C12.7 million in cash, a second payment of $C18.8 million to be satisfied by the issue of shares and a final payment of $C15.0 million to be paid as a royalty on gold revenue.","length":264,"tagName":"p"},{"type":"text","content":"The second payment will be made partially by the issue of LBI shares at a deemed price of $C0.50 per share. The proportion will be determined by LBI's ownership in LBR which is not expected to exceed 50%.","length":208,"tagName":"p"},{"type":"text","content":"These issues will be subject to all necessary regulatory approvals which is anticipated to necessitate expert reports, stock exchange approval and shareholder meetings.","length":168,"tagName":"p"},{"type":"text","content":"The offer is being made public because it is being sent to a large number of creditors including many former employees.","length":119,"tagName":"p"},{"type":"text","c...