- Large brown-field exploration area in the historic Central Rand Goldfield, mainly immediately south of Johannesburg.
- The stock will initially target surface mining areas, followed by shallow sub-surface areas, with a production target of 250,000oz a year by 2010.
- Amusing article in the FT about how the stock price saw one of its largest fall on September 17 with the granting of gold mining rights from South Africa’s government., transforming the mining company from a gold explorer to a producer sitting on indicated gold reserves of more than 30m ounces. http://www.ft.com/cms/s/0/8a1103d8-94c4-11dd-953e-000077b07658.html?nclick_check=1. The CEO said - “It’s not just the major funds that have walked away from us. It’s a dribble of smaller sales as retail investors, who are less protected from what is going on, also walk away – disregarding the fact that underneath we haven’t changed. We have added more gold reserves since then.”
- The CEO claims to have enough money to survive through to 2010...
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