In what has been a pretty busy day for businesses in SA, Resaca Technologies is moving forward with plans to offer more devices to small and medium-sized businesses, while DRD Gold is having a bit of trouble with the grade.
Resaca Technologies (formerly Net1) announced that it has entered into an agreement to acquire Heineken International's Touchside, a leading data analytics, insights and sales services company. The group said Touchsides and its Kazan business are highly complementary and the acquisition is expected to significantly expand Kazan's footprint in the tavern industry, which comprises an estimated 45,000 outlets. . Touchsides operates over 10,000 of his POS terminals, processing over 1.5 million transactions per day. From fiscal year 2023 to the end of June, Resaca's merchant division had 75,000 devices installed, with card-capable devices almost doubling in the year. Resaca, valued at more than R4 billion on the JSE, rose more than 6% on Tuesday but has fallen by about 10% in the past 12 months.
Gold producers and tailings reprocessing experts DRD Gold announced on Tuesday that a recovery in low grades weighed on production in the six months to the end of December, but it was still boosted by a 22% rise in the gold rand acceptance price. He said the decrease in gold sold was due to the head grade of the newer Driefontein 3 site being lower than the depleted Driefontein 5 site. Sales still rose 12% to almost R3 billion, and the company maintains its 2024 outlook of between 165,000 oz and 175,000 oz, which it expects to remain at the lower end. . DRD Gold fell more than 1% on Tuesday, but is still up nearly 8% over the past year.
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