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