JOHANNESBURG (miningweekly.com) – The prospect of good forward momentum for a resumption of valuable mining at the re-emerging old Blyvooruitzicht (Blyvoor) gold mine has received another boost.

This is because Aurous Resources, the South African mining group that owns and operates Blyvoor on Gauteng's West Rand, has secured approval from the US Securities and Exchange Commission (SEC) for its proposed business combination deal with Rigel Resource Acquisition Group.

The SEC declared effective the registration statement for the proposed business combination on January 14, which has been welcomed as a growth phase enabler.

"We’ve made steady progress in our ongoing efforts at improving our operational efficiency and unlocking significant value for our shareholders on the back of near record high gold prices,” Aurous CEO Richard Floyd noted.

“With the conclusion of our business transaction with Rigel, and the addition of new board members and investors, we expect 2025 to be a highlight in Aurous' ongoing business journey," Floyd added in a release to Mining Weekly.

Rigel will hold a special meeting of shareholders on February 4 to vote on the approval and adoption of the business combination. The transaction is expected to close shortly after shareholder approval at the special meeting, subject to the meeting of other customary closing conditions.

The combined company will be named Aurous Resources and is expected to be listed on the US’s NASDAQ stock exchange.

To date, the total committed and commercially agreed private investment in public equity (PIPE) financing secured amounts to R519-million, with a targeted PIPE raise of R944-million.

As reported in December, Aurous also announced three nominees as independent nonexecutive directors upon closing of the business transaction, namely Hennie van Greuning, Christine Coignard, and Stephen Hayes.

Aurous also previously shared an operating update for the first six months of the company’s 2025 financial year, reporting generated revenue of R434-million, an increase of 5% year-on-year, as well as operating profit of R39-million, a year-on-year increase of 59%.

In addition to operating the underground Blyvoor operation, Aurous is developing the Gauta tailings surface retreatment project.

Established in 1937, Blyvoor was one of the first mines on the West Witwatersrand, with production starting in 1942.