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Wits Gold chairman buys R5m in shares

November 16 2012 at 08:00am

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Adam Fleming, the chairman of Witwatersrand Consolidated Gold Resources (Wits Gold), purchased 280 000 shares in the company, the junior producer said yesterday.

In a letter to shareholders, Fleming said that despite negative sentiment of investors towards the South African gold mining industry, gold remained the currency of choice.

“As chairman and a major shareholder of Wits Gold, a company that possesses one of the world’s largest gold resources, including an exciting near-term and shallow project, I believe our shares fall into that category.”

The value of the transaction was R5 036 220. Shares closed unchanged at R18. – Dineo Faku


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