Africa’s biggest fund manager and a key investor in South African gold companies said any consolidation in the sector must benefit the country as well as shareholders.

Total proven and probable reserves are now 18.6 million tonnes grading 2.89 g/t Au, 7.73 g/t Ag and 0.84% Cu.

Open pit mining continues to operate uninterrupted at Oyu Tolgoi.

Company has released assay results for three holes completed at its project in Nova Scotia that hit gold mineralization below and along strike of the existing inferred resource.

After the sale, Equinox will hold 17.8 million Solaris shares, or 16.9% of the company.

Its shareholders, including US fund BlackRock, planned to raise $450-560 million by selling about 37% of the miner through the IPO.

The Canadian gold miner has grown its mineral reserves by 202% to 864,000 ounces.