WGR
WGR
Wits Gold - Company press release
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 is pleased to announce the raising of capital by way of a general
issue of shares for cash This issue for cash was completed at a price of
R55.00 per share resulting in gross proceeds of R30,683,510 (US$4m). The issue
for cash was arranged internationally by JP Morgan Chase Bank to institutional
shareholders. This placement represents a 2.23% increase in the issued
ordinary share capital of the Company and will be used primarily to fund Wits
Gold"s accelerated exploration programme in the Witwatersrand Basin.
These proceeds will also be used to complete a core storage facility near
Potchefstroom in the North West Province. The core shed will house diamond
drill core from the Company"s exploration programmes to complement the 526 km
of diamond drill core that was acquired along with the old order mineral
rights from AngloGold Ashanti, Gold Fields and Harmony.
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
Johannesburg
27 October 2006
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 27/10/2006 12:32:03 PM Produced by the JSE SENS Department
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