Wits Gold - Further Cautionary Announcement
Witwatersrand Consolidated Gold Resources Limited
(Incorporated in the Republic of South Africa)
Registration Number 2002/031365/06
JSE Code: WGR
ISIN: ZAE000079703
TSX Code: WGR
CUSIP Number: S98297104
('Wits Gold')
JOHANNESBURG, March 12, 2012 /CNW/ - Shareholders of Wits Gold are referred to the announcement released on the Securities Exchange News Service on Monday, 30 January 2012, relating to the Sale of Shares and Claims Agreement (the 'Acquisition Agreement') entered into by Wits Gold together with Pan African Resources plc (the 'Consortium') with Harmony Gold Mining Company Limited ('Harmony'), to acquire 100% of Harmony's interest in Evander, for a total consideration of ZAR1.7 billion (approximately C$221 million)less any distributions made by Evander to Harmony prior to the Closing Date, hereinafter referred to as the 'Transaction'.
Shareholders are advised that the pro forma financial effects of the Transaction are still being determined and may have a material effect on the price of Wits Gold shares. Accordingly, shareholders are advised to continue to exercise caution when dealing in Wits Gold securities until a further announcement is made.
A further announcement will be released on the Securities Exchange News Service, filed on SEDAR, and published in the South African press as soon as the pro forma financial effects have been finalised.
Johannesburg
12 March 2012
JSE Sponsor to Wits Gold Limited
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Transaction adviser and JSE Transaction Sponsor
Macquarie First South Capital (Pty) Limited
Wits Gold
CONTACT: Philip Kotze
CEO: Wits Gold
+27 11 832 1749
Hethen Hira
Executive, Investor Relations: Wits Gold
+27 11 832 1749
Russell and Associates: Nicola Taylor
+27 11 880 3924