Should the spinoff happen, AngloGold would be the latest miner to reduce exposure to South Africa, where political instability, controversial new mining rules and a stronger rand have made it less attractive to operate.
The country's Reserve Bank has ordered platinum and chrome miners to surrender 80 percent of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage.
While Bulgaria may not be the first country investors equate with gold mining, executives at one TSX Venture Exchange-listed company are sitting on pins and needles waiting for the drill results that could prove their high-grade thesis.
The company, to be named Integra Resources Corp, plans to acquire an advanced-stage gold-silver project in Canada or the United States in the next two months, and then apply to list on the TSX Venture Exchange, CEO George Salamis said.
South African miner Harmony Gold reported a 35 percent rise in full-year profit on Thursday and said it will look at growth, exploration and acquisitions to meet its 2019 production targets.