Village Main Reef shares strengthened as much as 8.3 percent to R1.43 on the JSE yesterday, before closing 6.1 percent up at R1.40 as markets responded positively to improved financial results for the quarter to June. The junior gold producer said it improved earnings a share to 9.81c in its fourth quarter from 7.19c in the third quarter to March. The operating profit inched up to R114.1 million, with Blyvooruitzicht contributing R5.6m in the first month under Village ownership. Village distributed a 30c a share special dividend to shareholders on August 6. Gold production at Buffelsfontein, Tau Lekoa and Cons Murch was steady at 39 480 ounces and antimony production improved 58 percent to 1 436 tons even though safety stoppages resulted in a loss of 107kg of gold and 53 tons of antimony production in the quarter. – Dineo Faku
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