SA junior targets 51% BEE

April 3, 2006

Junior gold hopeful Witwatersrand Consolidated Gold Resources (Wits Gold) is targeting a black economic-empowerment shareholding of 51%...

Deputy chairperson and representative of Continental Africa Gold Resources Professor Taole Mokoena notes: “In the spirit of the Broad Based Economic Empowerment Act, Wits Gold decided to start with a 51% BEE shareholding, though the Mining Charter requires only 26% for companies holding 'old order' rights such as Wits Gold.”

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