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Company News: Witwatersrand
Updated: 28 Feb 2011

Wits Gold is an active gold and uranium exploration company registered in the Republic of South Africa. The Company has a primary listing in Johannesburg on the JSE Limited and a secondary listing on the Toronto Stock Exchange. It is a designated foreign issuer under Canadian legislation as defined in National Instrument 71-102 (Continuous Disclosure and Other main board of Exemptions Relating to TSX Issuers). The Company is subject to the foreign regulatory requirements of the JSE Limited and is governed by the regulations of the JSE Limited. Wits Gold also has a Level 1 American Depository Receipt programme backed by The Bank of New York Mellon.
 
In accordance with the Minerals and Petroleum Resources Development Act (2002), Wits Gold has a  broad based black economic empowerment shareholding, the Company has been granted fourteen new order Prospecting Rights covering 1 195 km2 adjacent to existing mining operations in the Witwatersrand Basin. The total Mineral Resources in these Prospecting Rights in the Potchefstroom, Klerksdorp and southern Free State goldfields have been independently estimated by Snowden Mining Industry Consultants.
 
A summary of the Company's total Mineral Reserves and Resources is tabulated below. The Mineral Resources are inclusive of the Company's Probable Mineral Reserves.
 
The geological diversity of this substantial Mineral Resource provides Wits Gold with significant leverage to future changes in the gold price. The Company has contractual agreements with AngloGold Ashanti, Gold Fields and Harmony whereby these gold mining companies have an option to acquire an interest of up to 40% in any future mining operation on ground originally acquired from them. Although the Company is undertaking active exploration in all three goldfields, current attention is focused on progressing towards a development decision at the advanced Bloemhoek and De Bron projects in the southern Free State goldfield.

Also Known as: Wits Gold
Business Category Exploration; Mining
Regions of Operation Southern Africa
Exchange Ticker WGR
 

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12th Floor, 70 Fox Street
  • Johannesburg
  • South Africa
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