Egypt-focused gold miner is paying a final dividend of 10 US cents per share, or a total of $144 million, as it vowed to return all of its excess cash to investors.
Toro Gold became Africa’s newest gold producer last week after delivering first batch of bullion; firm is now weighing possibility of selling shares in 2018.
Last year, the miner sold other coal assets that exclusively supplied South Africa’s power utility Eskom, including New Vaal, New Denmark and Kriel collieries.
The stock fell by 21%, the steepest intraday decline since September, after the miner lowered production forecasts and confirmed that a stronger South African currency would knock annual profits.
A South African businessman now living in Canada wants to sell a unique collection of solid gold items intimately associated to Nelson Mandela, which he bought for about $360,000 in 2003.