Wrap Text
Reviewed condensed interim financial information for the six months ended 30 June 2013
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa) Registration Number 2002/031365/06
Registered Office:12th Floor 70 Fox Street Johannesburg 2001, South Africa
(PO Box 61147 Marshalltown 2107 South Africa)
www.witsgold.com
Stock Exchange Listings:
JSE Code: WGR ISIN: ZAE00079703
TSX Code: WGR CUSIP: S98297104
Reviewed condensed interim financial information for the six months ended 30 June 2013
Witwatersrand Consolidated Gold Resources Limited (Wits Gold or the Company) is a gold explorer and emerging producer
registered in South Africa since 2003 with a primary listing on the Johannesburg Stock Exchange (JSE: WGR). The Company
has maintained a secondary listing on Canada’s Toronto Stock Exchange (TSX: WGR) since 2008. Wits Gold is focused on
developing resources in the heart of the premier gold producing region in South Africa, the Witwatersrand Basin (Wits Basin),
while also considering acquisition opportunities of near-term producing mines with turn-around potential.
HIGHLIGHTS: THE BURNSTONE TRANSACTION
- Offer to acquire the Burnstone Mine accepted
- Acquisition of a shllow multi-million ounce gold Reserve for US$7.25m upfront payment
- Competition Commission approval granted
The condensed interim financial information has been prepared by Mr DM Urquhart CA(SA), the Company’s Chief Financial Officer and is
presented in South African Rands (R). This information has been reviewed by KPMG, the Company’s external auditors in order to comply
with the JSE Listing Requirements relating to the proposed acquisition of Southgold Exploration (Pty) Limited (refer to the section dealing
with subsequent events below). The exchange rates, based on the Bank of Canada noon rate, were as follows:
30 June 2012 CAD $1.00 = R8.03
31 December 2012 CAD $1.00 = R8.53
28 June 2013 CAD $1.00 = R9.40
19 September 2013 CAD $1.00 = R9.47
CONDENSED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2013
30 June 30 June 31 December
2013 2012 2012
(Reviewed) (Unaudited) (Audited)
R R R
ASSETS
Non-current assets 536 832 588 455 634 210 516 882 849
Current assets 30 900 614 93 787 706 24 433 149
Total assets 567 733 202 549 421 916 541 315 998
Equity and liabilities
Capital and reserves 519 888 707 543 215 662 534 834 182
Non-current liabilities 40 000 000 – –
Current liabilities 7 844 495 6 206 254 6 481 816
Total equity and liabilities 567 733 202 549 421 916 541 315 998
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2013
Six months ended Year ended
30 June 30 June 31 December
2013 2012 2012
(Reviewed) (Unaudited) (Audited)
R R R
Revenue – – –
Loss from operating activities (17 972 263) (15 763 958) (23 550 205)
Finance income 880 904 2 925 944 4 907 447
Finance expense (1 401 523) – –
Loss for the period before income tax (18 492 882) (12 838 014) (18 642 758)
Income tax expense – – 51 884
Loss for the period attributable to owners (18 492 882) (12 838 014) (18 590 874)
Other comprehensive income net of income tax – – 318 708
Total comprehensive income attributable to owners of the Company (18 492 882) (12 838 014) (18 272 166)
Loss per share
Weighted and diluted weighted average shares in issue 34 490 265 34 446 005 34 451 704
Basic and diluted basic loss per share (cents) (53.62) (37.27) (53.96)
CONDENSED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED 30 JUNE 2013
Six months ended Year ended
30 June 30 June 31 December
2013 2012 2012
(Reviewed) (Unaudited) (Audited)
R R R
Cash flows from operating activities
Cash utilised in operating activities (4 115 823) (11 125 353) (30 078 387)
Finance income 880 904 2 925 944 4 907 447
Finance expense (1 401 523) – –
Net cash utilised in operating activities (4 636 442) (8 199 409) (25 170 940)
Cash flows from investing activities
Net cash utilised in investing activities (20 073 895) (10 149 387) (71 362 528)
Cash flows from financing activities
Proceeds from related party loan 40 000 000 – –
Increase/(Decrease) in cash and cash equivalents 15 289 663 (18 348 796) (96 533 468)
Cash and cash equivalents at beginning of period 15 056 284 111 589 752 111 589 752
Cash and cash equivalents at end of period 30 345 947 93 240 956 15 056 284
CONDENSED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2013
Ordinary Equity- settled
share share-based
capital/ Share payment Revaluation Accumulated Total
Stated Capital premium reserve reserve loss
R R R R R R
Balance at 31 December 2011
(Audited)
344 903 573 194 892 18 033 076 1 329 449 (40 920 851) 551 981 469
Total comprehensive loss for the
period
– – – – (12 838 014) (12 838 014)
Equity-settled share-based
payments
– – 4 072 207 – – 4 072 207
Balance at 30 June 2012
(Unaudited)
344 903 573 194 892 22 105 283 1 329 449 (53 758 865) 543 215 662
Net increase on revaluation of – – – 318 708 – 318 708
land and buildings
Total comprehensive loss for the
period
– – – – (5 752 860) (5 752 860)
Conversion to no par value
shares*
573 194 892 (573 194 892) – – – –
Equity-settled share-based
payments – – (2 947 328) – –
(2 947 328)
Balance at 31 December 2012
(Audited)
573 539 795 – 19 157 955 1 648 157 (59 511 725) 534 834 182
Total comprehensive loss for the
period
– – – – (18 492 882) (18 492 882)
Equity-settled share-based
payments
– – 3 547 407 – – 3 547 407
Balance at 30 June 2013
(Reviewed)
573 539 795 – 22 705 362 1 648 157 (78 004 607) 519 888 707
* Ordinary share capital converted to ordinary shares of no par value in terms of resolutions passed at the annual general meeting held on
12 September 2012.
Overview and operational review:
Witwatersrand Consolidated Gold Resources Limited (Wits Gold or the Company) is a gold explorer and emerging producer registered in
South Africa since 2003. The Company obtained a primary listing on the Johannesburg Stock Exchange, (the JSE Limited) in April 2006
and has maintained a secondary listing on the Toronto Stock Exchange (TSX) since January 2008. Wits Gold is focused on developing
resources in the heart of the premier gold producing region in South Africa, the Witwatersrand Basin (Wits Basin), while also considering
acquisition opportunities of near-term producing mines with turn-around potential. For further information on proposed acquisitions, please
also refer to the section below, Events subsequent to the review period.
The Company currently does not generate any operating income.
In June 2012, Wits Gold completed a Pre-Feasibility Study (PFS) over its De Bron-Merriespruit (DBM) Project situated in the southern Free
State goldfield, South Africa. The study has illustrated that mining at DBM is technically and economically viable, and accordingly, a
Probable Reserve of 3.1Moz (23.5Mt at 4.1g/t gold) has been delineated (refer to the Probable Mineral Reserve table). The results of the
PFS are available in the technical report on the DBM Project by Royal Haskoning DHV (RHDHV – formerly Turgis Mining Consultants
Proprietary Limited) dated 26 July 2012 which can be viewed at www.sedar.com and on the Company’s website. A Definitive Feasibility
Study (DFS) has been initiated on the DBM Project and will be undertaken by RHDHV in conjunction with MDM Technical Africa Proprietary
Limited (MDM), who will focus on the design of the metallurgical processing plant. The DFS has been delayed to accommodate the
implementation of the acquisition of Southgold (see below) and is now only expected to be released during the 1st quarter of 2014.
In October 2009, the Company completed a positive PFS over its Bloemhoek Project situated immediately adjacent to Beatrix Gold Mine in
the southern Free State goldfield. The positive PFS at Bloemhoek resulted in the delineation of a Probable Reserve of 5.4Moz (31.6Mt at
5.3g/t gold) (refer to the Mineral Reserve table).
The DBM and Bloemhoek Projects are included within the Mining Right application area that has been accepted by the Department of
Mineral Resources (the DMR) over the Company’s project areas in the southern Free State goldfield.
The Company has previously been able to raise sufficient capital from its shareholders to fund its operating and exploration requirements.
Additional financing will be required to complete further feasibility studies as well as to develop any mineral properties identified in order to
bring them into commercial production. The longer term exploration of the Company’s Prospecting Rights is also dependent upon the
Company’s ability to obtain additional financing through the joint venturing of projects, debt financing, equity financing or other means. The
Company intends to raise funding prior to December 2013 as stated in the Audited Results for the financial year ended December 2012 and
is considering various options in this regard. Further details will be announced in due course. In the meantime, the Company obtained an
unsecured loan for R40 million from The Joburg Trust in February 2013. This loan is repayable no later than 31 December 2014, with
interest payable on a monthly basis. Wits Gold’s board of directors is of the opinion that once the Company has raised the requisite funding,
it will have sufficient funds to settle the loan, to fund its day-to-day operational expenditure and to fast track gold production for its recent
successful bid of the Burnstone Mine (see Events subsequent to the review period) in order to become self-sustaining. During the six-
month period under review, Wits Gold did not issue any additional shares.
Despite the historic exploration work on the Company’s remaining Prospecting Rights, no other known economic deposits have yet been
delineated. Further work will be required in order to determine if any economic deposits occur on these properties. Mineral exploration is
highly speculative due to a number of significant risks, including the possible failure to discover mineral deposits, sufficient in quantity and
quality to justify the establishment of a mine.
Potchefstroom Goldfield
The Company’s current focus in the Potchefstroom Goldfield situated in the North West Province, is on the Boskop and Livingstone Project
areas which are situated along the highly structurally deformed western margin of the Central Rand Group. No diamond drilling was
undertaken here during the period under review. A detailed structural analysis of the extended Boskop Project (which now includes the
Livingstone area) has been completed in order to optimally position exploration boreholes. This review has again confirmed the
prospectivity of the area for shallow (1 600 to 2 000 metres deep) Carbon Leader Reef mineralisation. Additional drilling will be required to
advance the extended Boskop Project with a view to ultimately completing a PFS.
Klerksdorp Goldfield
A recently completed desktop study of the Klerksdorp goldfield served to define areas where the Vaal Reef may be preserved in sizeable
reef blocks within the northeast – southwest trending Jersey Fault Zone, at depths between 3 500 and 4 200 metres. Further studies will
now be undertaken with the intention of reducing the Prospecting Rights area in order that unprospective areas can be relinquished.
No changes have taken place in the Company’s Resources or Reserves during the period under review.
Exploration activities
During the six-month period under review the Company incurred exploration expenditure of R20.1 million (June 2012: R9.97 million).
Exploration efforts were predominantly focused on the DBM Project in the southern Free State goldfield. This included detailed work
relating to options for underground mine designs being contemplated by RHDHV in the DFS to access the underground orebody. These
options will be refined from those considered in the PFS in order that the best financial returns are obtained for the Project, with an
optimised capital expenditure outlay. Metallurgical process designs by MDM for the ore process plant and proposed tailings facilities have
been finalised during the period under review. In addition GCS Water and Environmental Consultants (GCS) continued with
comprehensive environmental impact assessments which include flora and fauna surveys, heritage site investigations, surface water,
ground water and dust monitoring as well as radiation, air and noise pollution studies. Based on the results of these studies, GCS have
recommended mitigation measures for the key potential environmental impacts identified which will require implementation by Wits Gold
during the construction, operational, closure and decommissioning phases of the mine.
GCS have also been retained to apply for and obtain the necessary authorisations, approvals and licences from the Department of
Environmental Affairs, Department of Water Affairs and the National Nuclear Regulator as part of the Company’s National Environmental
Management Act and Mining Right application process. An integral part of the application requires regular public participation meetings with
the Company, local community and interested and affected parties in the district of Virginia, where overwhelming support has been
received for the development of the DBM Project.
Directorate
The Wits Gold annual general meeting was held in Johannesburg on 26 June 2013. Mr DM Urquhart, Mrs GM Wilson and Dr HLM Mathe were
reappointed by the shareholders, following their retirement in compliance of the Company’s memorandum of incorporation.
Basis of preparation
The condensed interim financial results for the six months ended 30 June 2013 have been prepared in accordance with International
Accounting Standard 34 Interim Financial Reporting, Listings Requirements of the JSE Limited, the SAICA Financial Reporting Guides as
issued by the Accounting Practices Committee and Financial Reporting Pronouncements as issued by the Financial Reporting Standards
Council, as well as the South African Companies Act, 2008, as amended. The accounting policies applied in the condensed interim
financial results are consistent with those applied for the year ended 31 December 2012 and are in terms of International Financial
Reporting Standards (IFRS) as issued by the International Accounting Standards Board.
These condensed interim financial results for the six months ended 30 June 2013 have been reviewed by KPMG Inc. KPMG Inc. has
issued an unmodified review report on these condensed interim financial results. The auditor’s unmodified report is available for inspection
at the registered office of the Company. The accounting policies of the Company are consistent with those of the previous financial
statements and have been consistently applied. These results should be read in conjunction with the annual report for the year ended
31 December 2012.
Reporting segments
The Company identified only one business segment, being mineral exploration within South Africa.
Interim results
The results from operating activities for the six months under review increased by R2.2 million when compared to the first six months of the
prior financial period. The escalation in operating loss incorporates an increase in costs amounting to R4.6 million comprising increases in:
- salaries to directors and employees of R1.8 million; and
- new project expenditure of R2.8 million.
These increased costs were offset by decreases in:
- non-cash share-based payment expense for directors of R1.4 million; and
- R1.0 million in investor relations expenses.
The loss before taxation increased by R5.6 million mainly due to the R2.2 million increase in operating loss mentioned above, the reduction
in interest received of R2 million and the increase in interest expense of R1.4 million being the interest payable on the R40 million loan
received from The Joburg Trust.
The Company capitalised R20.0 million (June 2012: R10.0 million) to intangible exploration assets during the six months under review.
Related party transactions
During February 2013, The Joburg Trust, in which the Company’s non-executive Chairman, Adam Fleming, has an interest, provided the
Company with bridging finance in the form of an unsecured loan amounting to R40 million. This loan is to fund operational expenses and
carries interest at 10.07%, which is payable on a monthly basis, with the capital being repayable in full, no later than 31 December 2014.
The Company rents office facilities, representing less than 2% of the total building, from The Johannesburg Land Company Proprietary
Limited, in which Adam Fleming has an interest. The terms of this rental agreement are equivalent to those that prevail in arm’s length
transactions.
Dividend
No dividend has been declared for the period under review (June 2012: Nil).
Headline earnings per share
The headline loss and loss per share for the period under review is as follows:
Six months ended Year ended
30 June 30 June 31 December
2013 2012 2012
(Reviewed) (Unaudited) (Audited)
Loss per share
Weighted and diluted weighted average shares in issue 34 490 265 34 446 005 34 451 704
Basic and diluted basic loss per share (cents) (53.62) (37.27) (53.96)
Headline and diluted headline loss per share (cents) (53.62) (37.27) (53.35)
Headline loss per share is calculated from basic loss (18 492 882) (12 838 014) (18 590 874)
Deduct impairment of intangible assets – – 211 452
Headline loss (18 492 882) (12 838 014) (18 379 422)
Commitments
The Company’s commitments amount to R9.2 million (June 2012: R70.2 million, primarily relating to the acquisition of Prospecting Rights
from the Harmony Group), comprising mainly R3.4 million (June 2012: R11.1 million) in respect of exploration activities and R5.2 million in
respect of the DFS at the DBM Project (June 2012: Rnil).
Events subsequent to the review period
The Company bid successfully to acquire the Burnstone Mine, wholly owned by Southgold Exploration (Pty) Limited (Southgold), whereby
on 11 July 2013, the required number of Southgold creditors’ votes were received in favour of the business rescue plan (the Plan), which
Plan incorporates Wits Gold’s Proposed Offer to acquire the entire issued shares in Southgold and all inter-group claims against Southgold.
Wits Gold is currently finalising the definitive transaction agreements. This bid is subject to and conditional upon the fulfillment of, or waiver
by Wits Gold of, conditions precedent standard to a transaction of this nature, including but not limited to entering into definitive transaction
documents, obtaining all necessary shareholder and regulatory approvals and Wits Gold obtaining the necessary financing arrangements.
A detailed announcement including the pro-forma financial effects on the reported financial information of Wits Gold, as well as the salient
dates relating to the implementation of this transaction, will be announced in due course.
Mineral Resources
Wits Gold holds legal title to 14 Prospecting Rights over a collective area of 1 046km 2 in the southern Free State, Potchefstroom and
Klerksdorp goldfields. An application to consolidate four of these Prospecting Rights in the southern Free State into a single Mining Right
was accepted by the DMR in February 2012. The Mining Right is expected to be granted once the Company has met obligations in terms of
feasibility studies, environmental impact assessments and social and labour plan commitments. In addition the Company successfully
relinquished one of its greenfield Prospecting Rights in the southern Free State where initial exploration activities did not confirm the
Company’s geological model. This relinquishment will not affect the Company’s Resource statement in any way. A further application for
relinquishment has subsequently been submitted over a separate non-core Prospecting Right, also in the southern Free State goldfield,
where work programmes indicated no potential for economic mineralisation. Mineral Resources were not declared over either of these
areas submitted for relinquishment. Two renewal applications for Prospecting Rights were granted by the DMR North West region during
2013 which are awaiting notarial execution, while a further two renewal applications that were submitted to the DMR Free State region in
November 2012 and January 2013 are currently being processed in terms of the Mineral and Petroleum Resources Development Act of
2002. Prospecting Rights remain valid and in force while renewal applications are being processed until the application is refused or
granted.
None of the Company’s assets are currently in production and the directors are not aware of any legal proceedings or any other material
conditions that may impact on the Company’s abilities to continue its exploration activities. The contained Mineral Resources are currently
reflected as being fully attributable to Wits Gold. However, over certain properties in the Potchefstroom and Klerksdorp areas, Gold Fields
Limited and AngloGold Ashanti Limited have an option to acquire a 40% interest in any future mines that may be developed on the
Prospecting Rights originally acquired from them.
As part of its approved Environmental Management Plans (EMP), the Company has lodged bank guarantees totalling R390 000 (June
2012: R320 000) with the DMR. This amount has been accepted for the work programmes proposed over the 14 Prospecting Rights held
by Wits Gold. EMP compliance is monitored on an ongoing basis for the duration of the Prospecting Rights.
The Company’s total Mineral Reserve and Resource Estimates are shown in the tables below. The figures have not changed since the
updated Mineral Reserve and Resource Estimates were published in the Company’s Integrated Annual Report for the financial year ended
December 2012, which can be viewed on the Company’s website and www.sedar.com. These Resource Estimates are compliant with the
NI43-101 and SAMREC reporting codes. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Information concerning the geology, mineral occurrences, nature of mineralisation, geological controls, rock types, historical work, the
application of quality assurance and quality control measures, sampling and analytical procedures, the names of analytical laboratories and
the key assumptions, parameters and methods used to estimate the Mineral Resources at the Company’s various projects are
communicated in NI43-101 reports dated November 2007, May 2009, June 2009, October 2009, April 2011, February 2012 and July 2012
which can be viewed at www.sedar.com and on the Company’s website.
Total Mineral Resources
Indicated Gold Indicated Uranium Inferred Gold Inferred Uranium
Resources Resources Resources Resources
Grade Grade Grade Grade
Goldfield Mt (g/t) Moz Mt (Kg/t) Mlbs Mt (g/t) Moz Mt (Kg/t) Mlbs
SOFS 121.9 6.0 23.5 21.7 0.17 8.2 121.7 4.7 18.3 194.8 0.23 99.6
Potchefstroom – – – – – – 333.6 7.1 75.8 250.0 0.30 163.6
Klerksdorp – – – – – – 85.1 14.5 39.5 – – –
Total Mineral
Resources 121.9 6.0 23.5 21.7 0.17 8.2 540.4 7.7 133.7 444.8 0.27 263.2
SOFS goldfield Mineral Resources (Bloemhoek and DBM Projects)
Indicated Gold Indicated Uranium Inferred Gold Inferred Uranium
Resources Resources Resources Resources
Grade Grade Grade Grade
Advanced Projects Mt (g/t) Moz Mt (Kg/t) Mlbs Mt (g/t) Moz Mt (Kg/t) Mlbs
DBM Project 41.8 5.5 7.5 21.7 0.17 8.2 19.5 5.4 3.4 12.5 0.17 4.6
Bloemhoek Project 47.8 6.9 10.6 – – – 15.3 6.9 3.4 63.1 0.15 20.9
Total 89.6 6.3 18.1 21.7 0.2 8.2 34.8 6.0 6.8 75.6 0.15 25.5
SOFS goldfield Probable Mineral Reserves (Bloemhoek and DBM Projects)
2013
Probable Gold Reserves
Grade
Mt (g/t) Moz
Bloemhoek Project* 31.6 5.3 5.4
DBM Project** 23.5 4.1 3.1
Total 55.1 4.8 8.5
Mineral Resource and Reserve estimates are compliant with the NI43-101 and SAMREC reporting codes.
Probable Mineral Reserves are included in the Indicated Resources for the Bloemhoek and DBM Projects.
* Based on a gold price of US$1 400/oz and an exchange rate of R8.00/US$1 (R360 100/kg).
** Based on a gold price of US$1 555/oz and an exchange rate of R8.00/US$1 (R400 000/kg).
Mr Dirk Muntingh, the Company’s Vice President: Mineral Resources & Growth and Competent Person, is responsible for the technical
material in this release. Mr Muntingh (M.Sc Geology) is a registered Professional Natural Scientist (“Pr.Sci.Nat.”) with the South African
Council for Natural Scientific Professionals (“SACNASP”) and has over 29 years of experience in the industry. The technical content of this
release has been compiled by Mr Muntingh, who has issued a written statement confirming that the information disclosed is both SAMREC
and NI43-101 compliant.
Forward-looking information
Certain statements in this release may constitute forward-looking information within the meaning of securities laws. In some cases, forward
looking information can be identified by use of terms such as “may”, “will”, “should”, “expect”, “believe”, “plan”, “scheduled”, “intend”,
“estimate”, “forecast”, “predict”, “potential”, “continue”, “anticipate” or other similar expressions concerning matters that are not historical
facts. Forward-looking information may relate to management’s future outlook and anticipated events or results, and may include
statements or information regarding the future plans or prospects of the Company. Without limitation, statements about the Burnstone Mine
acquisition, future financings, potential mining methods, timing of a Definitive Feasibility Study, development of mineral properties, and
results of development of mineral properties are forward-looking information.
Forward-looking information involves known and unknown risks, uncertainties and other important factors that could cause the actual
results, performance or achievements of the Company to be materially different from the future results, performance or achievements
expressed or implied by such forward-looking information. Such risks, uncertainties and other important factors include among others: the
ability to obtain the necessary shareholder and regulatory approvals for the acquisition of the Burnstone Mine and to satisfy all other
conditions president; economic, business and political conditions in South Africa; decreases in the market price of gold; hazards associated
with underground and surface gold mining; the ability to attract and retain qualified personnel; labour disruptions; changes in laws and
government regulations, particularly environmental regulations and Mineral Rights legislation including risks relating to the acquisition of the
necessary licences and permits; changes in exchange rates; currency devaluations and inflation and other macro-economic factors; risk of
changes in capital and operating costs, financing, capitalisation and liquidity risks, including the risk that the financing required to fund all
currently planned exploration and related activities may not be available on satisfactory terms, or at all; and the ability to maximise the value
of any economic resources. These forward-looking statements speak only as of the date of this release.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The
Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or
circumstances after the date of this release or to reflect the occurrence of unanticipated events except where required by applicable laws.
For and on behalf of the Board
P Kotze DM Urquhart
Chief Executive Officer Chief Financial Officer
Johannesburg
30 September 2013
Business and Registered Office
12th Floor, 70 Fox Street, Johannesburg, 2001
PO Box 61147, Marshalltown, 2107
Tel +27 (011) 832 1749 Fax +27 (011) 838 3208
Directors
Mr Adam Fleming (Chairman)*, Prof Taole Mokoena (Deputy Chairman)*, Dr Humphrey Mathe (Director)*, Mrs Gayle Wilson (Director)*, Mr
Ken Dicks (Director)*, Mr Philip Kotze (Chief Executive Officer), Mr Derek Urquhart (Chief Financial Officer)
* Non-executive
Company Secretary
Mr Brian Dowden
7 Pam Road, Morningside Ext 5, Sandton, Johannesburg 2057
PO Box 651129, Benmore, 2010, South Africa
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Limited
2 Eglin Rd, Sunninghill 2157
Private Bag X37, Sunninghill 2157, South Africa
Transfer Secretaries
JSE: Link Market Services SA (Pty) Limited
TSX: Canadian Stock Transfer Company Inc.
Date: 30/09/2013 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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