Simmer and Jack Mines, the preferred bidder for DRDGold’s North West operations, was making ”excellent progress” in its growth strategy, the company said on Monday.
”The company was making excellent progress in … its turn around and growth strategy,” chief executive Gordon Miller said in a statement.
”We took a moribund company and rejuvenated it. In a few short months we have successfully stopped the bleeding and the patient is returning to health.”
He said Simmers has embarked on a growth strategy by building on the base of its Mpumalanga assets while searching for gold mining opportunities in the Witwatersrand.
”We have now had applications approved for prospecting and mining rights in the Sabie, Pilgrim’s Rest goldfields and for the Randfontein number four shaft, which we have renamed Ezulwini.”
Simmers was the preferred bidder for the liquidated assets of DRDGold’s North West operations and had already begun surface operations on the provisional liquidator’s behalf.
”We hope to acquire the mining assets of the Buffelsfontein and Hartebeestfontein operations in the near future.
”If the company succeeds in acquiring Ezulwini and the North West operations, it will be on track to meet its objective of becoming a 400 000 oz producer within three years,” Miller said. – Sapa