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AUSTRALIA :
SIBANYE-STILLWATER OFF-MARKET TAKEOVER OFFER FOR NEW CENTURY
Photos Supplied Bobcat
1 . Cyril Keller , one the brothers who invented the world ’ s first compact loader ( later named the Bobcat skid-steer loader ).
2 . Louis , one of the Keller brothers who operated a small machinistblacksmith shop in the 1950s in Minnesota , building and repairing machinery for local farmers .
On 21 February Sibanye-Stillwater announced that the company is the largest shareholder in New Century Resources Limited ( New Century ) with an interest of 19.9 % after participating in an equity capital raising that was completed in December 2021 .
The company said it had launched an off-market takeover offer for all of the shares in New Century that they do not already own , in accordance with Australian takeovers requirements . The proposed takeover is in line with its strategy to invest in the circular economy and to be a global leader in tailings retreatment and recycling .
The offer price implies an equity value for New Century of USD103- million ( AUD149-million ) on a fully diluted basis . In the event that Sibanye-Stillwater acquires all of the securities in New Century which it does not already own , Sibanye-Stillwater will pay up to USD83-million ( AUD120-million ) 1 under the transaction .
Reference : 1 . AUD / USD : 0.69
USA :
INVENTORS OF THE WORLD ’ S FIRST COMPACT LOADER RECOGNISED
The brothers who invented the world ’ s first compact loader ( later named the Bobcat skid-steer loader ), Cyril and Louis Keller , have been selected as 2023 inductees for the National Inventors Hall of Fame ( NIHF ) in the USA . The NIHF annually recognises inventors , promotes creativity and advances the spirit of innovation and entrepreneurship .
How it all began In the 1950s , the Keller brothers operated a small machinistblacksmith shop in Minnesota together , building and repairing
6 • African Mining • May 2023
A farmer approached the Kellers with a need for a self-propelled loader light enough to be lifted to the second floor of a turkey barn and small enough to clean around the barn ’ s upright poles .
machinery for local farmers . A farmer approached them with a need for a self-propelled loader light enough to be lifted to the second floor of a turkey barn and small enough to clean around the barn ’ s upright poles . In response , in 1957 , the Kellers built a three-wheeled loader with two drive wheels in front and a caster wheel in the rear – the predecessor to the modern skid-steer loader .
The loader came to the attention of Melroe Manufacturing Company ( now Bobcat ) and the Kellers were invited to demonstrate their invention in the company ’ s booth at the Minnesota State Fair in 1958 . After a successful demonstration at the fair , the Melroe Manufacturing Company was awarded exclusive manufacturing rights to the machine on a royalty basis and hired the Keller brothers to refine the design and put the machine into production .
World ’ s first true skid-steer loader To improve on the design of the loader , a second set of drive wheels was added to the back of the loader in 1960 . With this four-wheel drive , the M400 became the world ’ s first true skid-steer loader . ‘ Skid-steer ’ describes the unique steering system , which enables the machine to turn within its own length . Later , the Bobcat brand name was established because of the machine ’ s toughness , quickness and agility . www . africanmining . co . za