miningmx
TODAY In Gold & Silver ›

Share Price
SIM
Last Trade : 97c
Change(%) :18.29
Cumulative Volume :3191441
Market Cap :R1184678451
» More company data...

Related Stories

Simmers to make an offer for Orkney mine

Ines Schumacher | Thu, 30 Apr 2009 12:06
Share
[miningmx.com] -- JUNIOR gold producer Simmer & Jack will make an offer to the provisional liquidators of Pamodzi Gold next week for the Orkney mine as it wraps up a due diligence at the mine this week.

"The results of the due diligence and analysis show there is value for Simmers in the Orkney mine," managing director of Simmers' gold division Deon van der Mescht told Miningmx on Thursday.

Orkney is ideally situated between Simmers' Buffelsfontein and Tau Lekoa operations.

Orkney has been in the hands of the provisional liquidators for the past month because of the massive debts run up by Pamodzi Gold's management. Pamodzi bought the mine from Harmony Gold in exchange for shares. Pamodzi has been unable to raise the money needed to recapitalise the old mine.

Orkney has resources of some 17 million ounces.

A mining services company, JIC, has agreed with the liquidators to restart operations at Orkney, targeting 90kg of gold this month and ramping up to around 160kg in the next three to four months.



USER COMMENTS () Click to View
COMMENT
SHARE
E-MAIL
PRINT
Add Your Comment
No bad language or hate speech please.

facebook de.li.cious Digg
special reports
News Alert! Subscribe to our Free News Alert
Most Read
Commented
Ed's Choice
  1. »ArcelorMittal checks its management system
    by Brendan Ryan | 28 Jul 2010 13:59
  2. »ArcelorMittal to drop steel prices
    by Brendan Ryan | 28 Jul 2010 07:52
  3. »Bernard Swanepoel to chair Simmers
    by Brendan Ryan | 27 Jul 2010 18:14
  4. »First Uranium recovers some lost ground
    by Brendan Ryan | 29 Jul 2010 09:52
  5. »Aquarius considers temporary closure of Blue Ridge
    by Brendan Ryan | 29 Jul 2010 11:05
  1. » Kebble's final moments described
    by Sapa | 26 Jul 2010 15:56
  2. » Investec to sub-manage $190m Nomura fund
    by I-Net | 27 Jul 2010 11:59
  3. » Subsidise the steel, or let it flounder
    by David McKay | 25 Jul 2010 10:25
  4. » De Beers guarantees Ponahalo deal
    by David McKay | 23 Jul 2010 14:30
  5. » SA govt says Kumba, Amsa will settle
    by Reuters | 19 Jul 2010 19:16
  1. » ArcelorMittal to close Saldanha plant
    by Brendan Ryan | 16 Jul 2010 14:17
  2. » Kumba, Arcelor set for Monday pow-wow
    by Jan de Lange | 18 Jul 2010 08:33
  3. » Aquarius Platinum shares plunge
    by Brendan Ryan | 19 Jul 2010 10:42
  4. » Amsa warns of beneficiation review
    by Jan de Lange | 19 Jul 2010 08:53
  5. » Labat buys Aurora gold plants for R38m
    by I-Net Bridge | 20 Jul 2010 16:36
More news from Gold & Silver
  • › Randgold share price spikes 10%
  • › More options on gold being offered
  • › Harmony closes Joel temporarily
  • › Mineworker dies at AngloGold's Tau Lekoa mine
  • › Harmony to sell Mt Magnet for $35m
  • › Gold poised as correction nears end
  • › Gold price extends losses
  • › Simmers drops proposed rights issue
  • › DRDGOLD sells prospecting rights to White Water
  • › CRG head of mining to resign
    • multimedia

    Multimedia

    LATEST PODCAST | July 23 podcast | 23 Jul 2010 - › More
    Mine safety is up for discussion this week and we speak to the DME about Aquarius Platinum’s safety ... Listen ›
    RADIO WRAP | More ›
  • › Gold One can sit out a long strike - Froneman |
  • › First Uranium rescue plan good for Simmers too - Bernard Swanepoel |
    • podcastsPodcasts
    Big opinions by big guys.     RSSRSS Feeds
    News delivered really simply.
    jobsJobs
    Current listings.     eventsEvents
    Current listings.
    jseJSE Listed stocks
    Real time resources data.
    special reportsFREE News Alert!
    Subscribe to our News Alert