Our credit view of this issuer reflects its geographical and asset diversification, against its exposure to the volatility in gold prices and USD/ZAR exchange rate.
The acquisition will expand the scale of the company's operations and its cash generation base after the mine is put into operation, increase profitability and reduce country risk exposure.
Our credit view of this issuer reflects its healthy liquidity profile and prudent financial policies, offset by its high concentration to Ghana which has weak credit quality.