Wits Gold chairman buys R5m in shares

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