Simmer and Jack Mines Ltd. WKN ZAE000006722 SIM

Wayne McCurrie, a fund manager for ADvantage Asset Management, said that although the dispute was unfortunate for Simmers, the recent decline in the share price had created some value.

"It went from 65c-odd to R2.40, R2.50, and it’s literally halved since then," McCurrie said.

"Maybe at this price, if you are a bit of a punter, maybe it’s not a bad time to get in and actually buy it," McCurrie said.

Gordon Miller, chief executive of Simmer & Jack
By: Alec Hogg
Posted: '20-MAR-06 09:10' GMT © Mineweb 1997-2004
http://www.mineweb.net/radio/mineweb_radio/981774.htm

S.Africa's Simmers says 10 miners trapped

Reuters
Thursday, March 23, 2006; 8:02 AM

JOHANNESBURG (Reuters) - South Africa's Simmer and Jack Mines Ltd. said on Thursday 10 miners were trapped underground at its Buffelsfontein gold mine after a fire and it was doing everything possible to reach the men.
Weiter...

Kebble's dead hand

...

Of relevance right now for thousands who bought Simmers shares on the JSE, is the battle between the management team and the Black-controlled Jaganda Consortium, put together by the Watsons are involved.

In a nutshell, complex structures and close-to-the-wind deals, which resuscitated the Simmers Phoenix, have the hallmarks of devious Brett and his long-time corporate finance advisor Charles Turner.

The Watsons and their partners in Jaganda believe they were duped, used and are now being cast aside. Simmers management say not.

A critical issue for Simmers, though, is its failure to publicly disclose what happened at last week’s meeting with senior officials of the Department of Minerals and Energy (DME).

Minutes of that meeting, penned by Simmers chairman Nigel Brunette, could hardly be more depressingly specific.

The DME stated plainly that Simmers’ existing structures are not compliant with Black Economic Empowerment legislation. Also, that the company can forget securing the rights for the proposed Randfontein Shaft Four. It also introduces risk for existing operations whose licences can be revoked in the next few years.

As the State controls South African mineral rights, the long-term implications of such damning statements from the DME is disturbing. As serious is the failure by Simmers to disclose the DME’s view to shareholders and the JSE.

Given that the current scandal revolves around the company’s empowerment credentials, it is apparent what came out of the DME meeting with three Simmers directors, including its chairman, would be viewed by the JSE as price-sensitive information. And as a result, should have been disclosed to all shareholders.

Simmers CEO Gordon Miller did his best to deflect the issue on Moneyweb Radio last night, arguing that the company disagrees with the DME’s view and is prepared to fight the State Department and other matters in court. ( Click here for the full interview)

Miller also says he is negotiating with a couple of BEE groups who are keen to invest in Simmers and “have the cash” to buy their way in. This way, he adds, the letter of the BEE law will be met.

Maybe yes, maybe no. What’s abundantly clear is this scrap is far from over. And given the history and hardened attitudes of the warring parties, the only certainty is the fight will be expensive.

Distressing as this will be for Simmers shareholders, their options are now quite clear.

They could figuratively store the stock in a bottom drawer and trust that, in time, the intrinsic value of the assets will be reflected in the share price. Or they can sell.

Unfortunately, it’s something which afflicts virtually all shareholders in listed companies touched by the dead hand of Brett Kebble.
http://www.moneyweb.co.za/shares/boardroom_talk/985598.htm

Happy ending

Posted: Fri, 24 Mar 2006

[miningmx.com] -- Ten miners who were trapped two kilometres underground in a burning mine shaft at Buffelsfontein gold mine in Stilfontein, North West have been found alive and brought to the surface.

"Yes, they have been found. All they said was that they were very hungry," Simmer and Jack spokesperson Gail Strauss told Sapa.

"They have received treatment," she said.

The miners were trapped underground by a fire which blazed on a single stope in the number seven shaft for more than 20 hours, and fears had been expressed for their safety by the union Solidarity.
...
http://www.miningmx.com/wts/986788.htm

gogh,

man könnte fast vermuten, Du kennst die Tiefminen aus eigener Anschauung?

Börse hat den Vulisango-Antrag auf Handelsaussetzung der Simmersaktien abgelehnt.
http://www.miningmx.com/wts/993325.htm

Aber die Auseinandersetzung geht weiter. Leider ist mir unklar, wie die Chancen für Vulisango stehen, das Simmers-Management abzulösen. Da geben die Quellen wieder zuwenig her.

Simmers-Management und Vulisango haben sich geeinigt: Managementgruppe, darunter das Hippo, verläßt Jaganda und kriegt 100 Mio Simmersaktien im Wert von 188 Mio Rand. Für die Jagandabeteiligung waren ursprünglich von der Managementgruppe 13 Rand (yes, R13) bezahlt worden.

Jaganda ist jetzt 100% BEE und hält über 26% von Simmers, die sich nun wieder um Randfontein Schacht 4 bewerben können.

[Blockierte Grafik: http://www.ksmaniak.com/IMAGES/LOGO/HAPPY%20HIPPO%2088.gif]

Simmers bosses cash in
http://www.mineweb.net/sections/junior_mining/362387.htm

MINEWEB: Yes. So they put in R13 or a nominal amount, and they’re getting 100m shares, which are worth R188m. That’s nice work if you can get it.
...
BARRY SERGEANT:...An enormous amount of money has been made at 188c a share. But who knows, the stock could go to R5....

NIGEL BRUNETTE: Yes, I imagine it is an enormous reward.....We all believe there’s a lot more money to be made, that 188c is not enough.
Aus:
Nigel Brunette: Chairman, Simmer & Jack
http://www.mineweb.net/radio/mineweb_radio/366727.htm

Simmers up 20% on mine rights news

By Justin Brown

Shares in junior gold miner Simmer and Jack mines (Simmers, SIM) on Monday soared as much as 20% on the company's announcement that the Department of Minerals and Energy had approved the company's application for mining rights in respect of Randfontein 4 shaft near Johannesburg.

The approval followed the settlement of the dispute between the shareholders of Jaganda, which holds at 44% stake in Simmers, the company said.

At 15:30, Simmers' shares on the JSE were quoted up 19% or 39 cents at 244 cents.

"Simmers shares are up as they got their mining rights. After settling their dispute with their empowerment partners they were allocated their
rights," a Johannesburg equities broker said.

I-Net Bridge
29/05/2006 Source: I-Net Bridge

Simmers to raise uranium funds this year

By: Gareth Tredway
Posted: '13-JUN-06 06:55' GMT © Mineweb 1997-2004

JOHANNESBURG (Mineweb.com) -- Gordon Miller, chief executive of Simmer & Jack, says his company will look to raise the required funds for its uranium ambitions this year and that it will be producing by 2008.

Production would come from the dumps at the company’s Buffels operations and from the Middel Elsburg mine at its Ezulwini operation according to Miller at a presentation at the JSE on Monday.

A bankable feasibility for the Buffels uranium will be complete by the end of July and one for the Ezulwini uranium should be complete by September according to Monday’s presentation. Earlier gold production hopes have not been achieved, so some investors are taking the uranium projections with a pinch of salt.

Previously, Miller has told Mineweb that so as not to dilute its empowerment shareholding the company would look at listing separate projects and raising the funds required at that level.

According to a production schedule displayed on Monday, the two operations could be producing in excess of 1.5 million pounds of uranium in 2009.

Gold

Higher gold prices have also helped Simmers’s Buffels mine start to generate positive cash flow. The company bought the project out of liquidation last year.

A June production target of 581kg per month, announced in November last year has not been reached, and the latest numbers being thrown out are of 530kg plus per month, by the first quarter of 2007.

At the old Randfondtein four shaft at Ezulwini, a shaft pillar extraction project is being prepared. Miller says it will take a year to prepare the shaft for pillar extraction.

By 2010, the project should be producing just below 300,000oz per annum according to the presentation.

Miller also said the company was still looking for further opportunities for acquisitions in South Africa’s gold mining industry.
http://www.mineweb.net/sections/energy/536020.htm

Neue PowerPoint Präsentation (4MB)
http://www.simmers.co.za/asp/i…0%20Website%20edition.ppt

>Abgesehen von einem Kollaps des Goldpreises, scheint Simmer und Jack sich langsam zu erholen. Aktienpreis hat sich dieses Jahr fast verdoppelt.
Das Leben hat sich verbessert.<

Simmers sets 800 000 oz/year target
David McKay
Posted: Tue, 20 Jun 2006

[miningmx.com] -- BARRING a collapse in the gold price – which can never be completely discounted – Simmer & Jack Mines (Simmers) appears to be a company on the mend. The share price has nearly doubled this year and was last trading at R2.25. Life is improved.

This follows a bruising and often confusing battle involving Simmers management, including CEO Gordon Miller, and the company’s empowerment interest, Vulisango.

The outcome, however, is that Simmers is 26% controlled by Vulisango, and the much sought-after mining license has been awarded for Simmers’ important gold and uranium project, Ezulwini. In the words of Richard III, Shakespeare’s villain, stern alarums have been replaced by merry meetings. “It’s been a turbulent time. But we’re a lot stronger as a company and management group,” says Miller.

Miller is now applying the jumper leads to Simmers’ strategy which involved listing its uranium assets – to be called Uranium One – on the Toronto Stock Exchange, before the year-end. The listing might involve raising $50m to $70m which would be deployed to mine its 280 million pound uranium resource trapped in slimes dams owned by gold mine, Buffelsfontein.

A more surprising development, however, is Miller is also considering listing Ezulwini (formerly owned by Harmony Gold and known as Randfontein 4 shaft) on the JSE.

Ezulwini would be a gold and uranium play with plans to increase gold output from 60,000 oz/year in 2007 to 300,000 oz in 2012. Uranium One would also produce gold as a by-product, about 125,000 oz/year in its second year of operation.

All in all, Miller hopes Simmers will be a company producing 800,000 oz/year of gold from all its sources, including gold from the ancient TGME assets in Pilgrims Rest, and production from Buffelsfontein, the mine it bought from DRDGOLD last year.

If this sounds a slightly ambitious, it’s worth remembering the context in which investors find themselves. Finweek calculates that at least two new gold listings are likely on the JSE before the year-end (Great Basin Gold and Central African Gold). Business development director at the JSE, Noah Greenhill, also proved the point last week by packing the bourse’s auditorium with investors in a two-day mining showcase.

For uranium specifically, a chronic shortage of uranium oxide is persuading a number of mining firms with access to the mineral to consider listing. In Toronto, Simmers’ ambition is not unusual.

“Uranium is an issue very much market driven,” says Miller. “It has different fundamentals to gold and we’re seeing long-term contracts running higher than spot (backwardation),” he says.

According to British stockbroker HargreaveHale in a report published in April, total world reactor uranium oxide requirements totalled 172 million pounds compared to primary supply of 104 million pounds.
http://www.miningmx.com/gold_silver/565042.htm

Datenbankproblem immer noch nicht gerafft?

BOOT THE TECHNICIANS!

Vorläufiges Ergebnis für Geschäftsjahr endend 31.03.06:

Im positiven Bereich durch einmaligen Sonderertrag.

Posted: Fri, 30 Jun 2006

[miningmx.com] -- SOUTH African junior miner Simmer & Jack said on Thursday it expected to trim its annual headline loss by 20-30%. Its earnings per share are likely to move slightly into a profit from a loss last year, due to an unrealised gain from its acquisition of the Buffelsfontein mine, the firm said in a trading statement.

Simmers posted a headline loss per share, stripping out non-trading, capital and some extraordinary items, for the 12 months to March 2005 of 12.8 cents.

The company said in a trading statement that EPS was due to rise by 100-110%. Last year the firm posted a loss per share of 19.9 cents.

The firm's financial director Gerhard Jacobs told Reuters that when calculating a percentage change from loss to a profit, a 100% rise meant a move to zero.
http://www.miningmx.com/wts/632543.htm

Hier mal eine Grafik über die Kursentwicklung von Simmers im Vergleich zu unserem Flatliner.

500% in einem Jahr ist schon ein Wort; seit Threaderöffnung immerhin noch 140%. Nicht schlecht für einen Thread mit zwei Stinkefingern!

Wollte eigentlich mal die Cashkosten von Blyvoor ( 542 $ ) mit Buffels vergleichen. Gerechnet hatte Simmers mit 459$, habe aber noch keine aktuelle Zahl gesehen.

Vielleicht sollte sich Roger mal bei DRD bewerben. MWW wollte doch frisches Blut (it's time for some new blood ) sehen. Und wo bleibt DRD´s Kursfeuerwerk nach MWW´s Rücktrittverheißung?

Johann de Bruijn, SIM portfolio manager

In an interview on ClassicFM @ 18:00 on Friday, 24 November 2006

[miningmx.com] -- INVESTORS should consider adding rand hedge stocks to their portfolio including counters such as Eland Platinum and Simmer & Jack Mines (Simmers), said Johann de Bruijn, a portfolio manager at Sanlam Investment Management.

De Bruijn said he considered platinum to have good prospects. Although uranium had performed well, he was nonetheless slightly more cautious about the metal. De Bruijn was speaking on Classic Business.

...

Simmer & Jack (Simmers) gives a nice gold exposure ... It has some good gold assets, and there’s the uranium story," he said.

Simmers was trading at about 95c a year ago and was now trading at just under R5/share.[anfangs zitiertes Kursziel damit bald erreicht ! ]

"One needs to treat the uranium story with a little bit of caution, but at this stage their uranium prospects look very good. A high quality rand hedge stock," said De Bruijn.
http://www.miningmx.com/radio/