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.
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
Latest Press Releases
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Most Recent Company News
- Wits Gold COO - 23 Mar 2012 11:59am
Witwatersrand Consolidated Gold Resources Ltd (Wits Gold) announced the appointment of Bernard Wessels as chief operating officer, saying Mr Wessels’ development experience would be useful as the company fast-tracks the De Bron-Merriespruit project towards production in 2016 Read more... - Pan African, Wits Gold team up to buy Evander - 03 Feb 2012 12:52pm
Witwatersrand Consolidated Gold Resources Ltd and Pan African Resources plc will set up a 50:50 joint venture to buy the Evander gold mine (pictured) in South Africa for as much as R1.7 billion (US$220 million) in cash and assumed debt Read more... - Investor seminar: Gold - 30 Sep 2011 11:48am
The latest event in the ‘investor seminar’ series demonstrated the continuing appeal of gold Read more... - Wits scoping points to 'shallow' mine - 01 Jul 2011 11:44am
An independent scoping study for Witwatersrand Consolidated Gold Resources Ltd’s De Bron-Merriespruit South gold project in South Africa has designed a potentially viable underground mine Read more... - Wits raises DBM resource - 25 Feb 2011 11:13am
Resources between 500m and 1,250m at Witwatersrand Consolidated Gold Resources Ltd’s De Bron-Merriespruit gold property in the southern Free State goldfield contain an estimated 10.1Moz of gold Read more...
Financial Information
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Exchanges listed on JSE
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12th Floor, 70 Fox Street
- Johannesburg
- South Africa
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