Bloomberg News

South Africa Shares: Avusa, First Uranium, Gold One, Village

June 12, 2012

The FTSE/JSE Africa All Share Index (JALSH) rose for the first time in three days, gaining 0.7 percent to 33,855.46 by the close in Johannesburg.

The following were among the most active equities in the market today. Stock symbols follow company names.

Avusa Ltd. (AVU) , a South African media company, gained the most in more than a year, jumping 8.8 percent to 22.31 rand. Mvelaphanda Group Ltd., which owns 21.3 percent of Avusa through its Richtrau Ltd. unit, offered to buy the shares in the media firm at 24 rand each.

First Uranium Corp. (FUM SJ), a uranium and gold producer, surged to the highest in more than four months, climbing 34 percent to 1.90 rand. The company said its board decided not to proceed with a proposal from Kumvest (Pty) Ltd. to buy a 26 percent stake in First Uranium, leaving it to sell assets and return cash to shareholders.

Gold One International Ltd. (GDO) , a gold producer, advanced for the first time in three days, rising 2.7 percent to 3.80 rand. The company’s plan to buy First Uranium Corp. (FUM)’s Ezulwini mine may proceed following First Uranium’s decision not to support an offer from Kumvest (Pty) Ltd.

Village Main Reef Ltd. (VIL) , a gold miner, rose to the highest level in two months, adding 4.2 percent to 1.74 rand. A pre-feasibility study of the company’s majority-owned Lesego Platinum project gave it “greater confidence” in the ore body, it said in a statement today.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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