leadf
logo-loader
viewHarmony Gold

Harmony debt free after uranium assets sale and fundraising

pound_coins350_49f044235d525.jpg
Harmony Gold Mining Co Ltd (LSE: HRM) announced it is now debt free following the sale of a 60 percent stake in its uranium assets to Pamodzi Resources Fund for US$252 million and a fundraising earlier this year.

The money raised totaled Rand2.7 billion and is being used to repay Harmony’s convertible bond due in May 2009 and its short term debt, leaving a positive cash balance of approximately Rand1.5 billion.

“Harmony is in excellent financial health with a strong balance sheet thanks to all the measures that have been taken in the past 18 months. Our focus now remains on achieving our overall targets and delivering consistent results”, chief executive Graham Briggs said.

Quick facts: Harmony Gold

Price: 3.82 USD

NYSE:HMY
Market: NYSE
Market Cap: $2.33 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE fidgets ahead of Spring budget as traders shuffle in seats

FTSE 100 eked out a tiny early gain as traders sat on their hands ahead of Wednesday’s Budget announcement. London’s leading index was up 1 points to 6,589 in early trading. boohoo Group PLC (LON:BOO) is facing a potential import ban to the US over allegations of slave labour in the UK. The...

1 hour, 1 minute ago

2 min read