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WGR
WGR
Wits Gold - Wits Gold launches Level 1 ADR programme in the United States
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
ISIN: ZAE000079703
("Wits Gold" or "the Company")
Wits Gold launches Level 1 ADR programme in the United States
Johannesburg: August 7th, 2006
Wits Gold (JSE: WGR; ADR: WIWTY) today announced the launch of a Level one ADR
(American Depository Receipt) programme, sponsored by the Bank of New York.
American Depositary Receipts trade like any U.S. security, alleviating certain
obstacles associated with investing directly in the home markets of non-U.S.
companies. Level I Depositary Receipts are traded in the over-the-counter (OTC)
market with prices published in the "Pink Sheets".
Wits Gold"s decision to initiate this ADR programme was based on a number of
factors. These include the following:
A larger market for Wits Gold shares with a view to increased liquidity, a
broader shareholder base and a stable share price.
An enhanced international image for the Company that should result in improved
research coverage.
To provide Wits Gold with access to US capital markets.
To facilitate the trading in the Company"s shares and reduce the costs for US
investors.
Wits Gold is a Johannesburg based gold exploration company with its primary
listing on the JSE Limited in South Africa. The Company has been granted eight
prospecting rights which cover 90 825 hectares in brownfields or near mine areas
in the Southern Free State, Potchefstroom and Klerksdorp Goldfields of the
Witwatersrand Basin. These combined areas contain a SAMREC compliant Inferred
Resource of 158.8Moz of gold and 134.7 million lbs of U3O8. The immediate
exploration strategy for Wits Gold is to add value through improved mineral
resource definition by undertaking additional drilling in five priority
projects. The objective of the exploration programme will be to progress at
least one project to the pre-feasibility stage within the next three years.
For further information please contact:
Marc Watchorn
Chief Executive Officer
Tel: +27 11 832 1749
Hethen Hira
Investor Relations Manager
Tel: +27 11 832 1749
www.witsgold.com
Johannesburg
7 August 2006
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Cautionary note concerning forward-looking statements: Certain statements in
this release that are not historical facts constitute "forward-looking
statements" involving known and unknown risk and uncertainties that are beyond
the ability of the Company to control or predict and that could cause actual
events or results to differ materially from those anticipated in such forward-
looking statements. These forward-looking statements are made only as of the
date of this document and the Company undertakes no obligation to publicly
update or revise these forward-looking statements.
Date: 07/08/2006 07:30:22 AM Produced by the JSE SENS Department
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