Simmer and Jack comments regarding FIUSwanepoel added he intended ensuring a culture of accountability within Simmers from board level down for the stated objectives.
As a result of the protracted battle for control of the Simmers board, it now consists of a number of high-profile mining executives.
These include Impala Platinum CEO
David Brown , Aquarius Platinum CEO
Stuart Murray and former Anglo Platinum CEO
Ralph Havenstein .
Swanepoel said: “It is a privilege to chair a board like that.”
While conditions seem to be finally turning around for Simmers, movements in the share price of 37%-held subsidiary First Uranium seem to indicate investors are unhappy about prospects. This is despite the recent financial bailout organised by Simmers.
The First Uranium share price dropped 19% on the JSE on Tuesday to hit 545c, compared with 858c on July 13.
On the Toronto Stock Exchange the share has been on a steady decline since last October, when it stood at C$4.00. It dropped to below C$3.00 by early January and reached as low as C
.72 in early trading on Tuesday.
Asked about this, Swanepoel said: “I have certainly noted the recent drop in the First Uranium share price, but there is nothing I am aware of that would explain it.
“I believe everything at First Uranium is now on a good and sound footing.”
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