Company Data
| Last traded |
R0.03 |
| Change |
R0.00 |
| % Change |
0.00% |
| Cumulative volume |
3.46m |
| Market cap |
R37.83m |
| Last traded |
R300.00 |
| Change |
R-1.90 |
| % Change |
-0.63% |
| Cumulative volume |
1.33m |
| Market cap |
R114.79bn |
| Last traded |
R81.87 |
| Change |
R-0.17 |
| % Change |
-0.21% |
| Cumulative volume |
1.11m |
| Market cap |
R35.33bn |
Related Articles
Top Stories
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
42 minutes ago
As far as repayments on home loans are concerned, South Africans are in a much more favourable position than their foreign peers.
Johannesburg -
Bernard Swanepoel, the former
chief executive officer of
Harmony Gold Mining Company [JSE:HAR], will take over as chairperson of junior gold producer
Simmer & Jack Mines [JSE:SIM] in September.
This is after the non-executive chairperson
Vusi Khanyile said he would not make himself available for
re-election to the board at the Annual General Meeting.
Khanyile was appointed to the Simmers board in December 2009 when he agreed to step into the
breach and help stabilise the company following a shareholder dispute with its black
economic empowerment partner Vulisango Holdings.
Under his leadership the shareholder dispute was resolved and a functional, independent board
established.
"I accepted the position of chairperson in December 2009 precisely because I believed I could play
a role in helping to restore investor confidence through the creation of a strong
and effective board capable of putting the company on a steady footing and
positioning it to deliver on its potential," said Khanyile.
"I believe that this has now been achieved and I am confident that the
company is in safe hands,"
he added.
Swanepoel said Khanyile's contribution had been important in securing the
future of the company, which
with the conclusion of the Tau Lekoa acquisition "looks highly
promising".
Last week Simmers announced the completion of the R600m Tau Lekoa acquisition from
AngloGold Ashanti [JSE:ANG].
The deal, first announced in February last year, has taken 17 months to conclude
but is seen as a
turning point for Simmers.
The company-transforming acquisition will catapult Simmers from a marginal, junior miner into the
fourth largest gold producer in South Africa.
"It's the first strategic step in transforming Simmers into a company
capable of sustaining healthy
profitability, given that Tau Lekoa is capable of generating positive free cash flow from
the outset," said CEO Nico Schoeman last week.
Simmers
will take full ownership of Tau Lekoa and the adjacent properties of Weltevreden and
Goedgenoeg from next month.
Swanepoel assumes the role of chairperson after the AGM on September 10.
- I-Net Bridge