Simmer & Jack Mines, Limited is an emerging South African metals
company with significant gold and uranium assets. The Company's goal is
to become a low-cost, major gold and uranium producer, aiming for 2.8
million pounds of uranium by 2010 and 1 million ounces of gold by 2012.
Simmers' gold operations are situated in South Africa's North West
province (Buffelsfontein Mine) and the under-explored Mpumalanga
province (Transvaal Gold Mining Estates). The Company also has a 37.24%
stake in TSX and JSE-listed First Uranium Corporation. Established in
2005 to house Simmers' uranium assets, First Uranium Corporation, raised
R1.3 billion in new capital when it listed on the Toronto Stock
Exchange in December 2006. This was followed in June 2007 when First
Uranium raised an additional CDN$150 million in a private placement of
senior unsecured convertible debentures, due in June 2012. The net
proceeds from the listing and the convertible debentures are being used
to develop First Uranium's two gold and uranium projects, namely the
underground Ezulwini Mine, and a tailings recovery project called Mine
Waste Solutions. In February 2009, Simmers acquired Tau Lekoa gold mine
from AngloGold Ashanti for a consideration of R600 million.
The Company is engaged in an intensive growth and development
strategy to ramp up production at all its operations and convert its
substantial resource base to mineable reserves.
Simmer and Jack complies with black economic-empowerment ownership
and control criteria of the Mining Charter and the Minerals and
Petroleum Resources Development Act of 2002. As a result, the company is
also compliant with government's recently released Codes of Good
Practise. BEE investments into the company account for direct
equity-ownership stake in Simmers of 27%.