Simmer And Jack Mines (South Africa)

Simmer and Jack Mines, Limited (Simmers) is a holding company whose main assets are cash. The Simmers shares are listed on the JSE Limited (JSE). During the period under review, the group disposed of the subsidiary company that had mineral rights and was involved in gold mining, in the Mpumalanga area. In the prior year Simmers disposed of the majority of its assets, including Simmer and Jack Investments Proprietary Limited (SJ&I), its 25,5% investment in the equity of First Uranium Corporation Limited (FIU), as well as 392 784 secured convertible Rand denominated notes issued by Mine Waste Solutions Proprietary Limited with a face value of R1 000 each (MWS Rand Notes), to Village Main Reef Limited (Village) during the period under review (‘the Village transaction’). SJ&I is the owner of Buffelsfontein Gold Mines Limited (BGM), who in turn holds 100% of Buffelsfrontein Mine (Buffels) and Tau Lekoa Mine (Tau Lekoa).