Good for a chuckle? Decide for yourself. But nothing, it seems, has changed in more than a century.
This Thursday, Simmer & Jack put out the following announcement. But read what JH Curle had to say about the financing of the company way back in 1899, yes 1899, in his “Gold Mines of the World” published that year. This has a semi-direct affect on your IRA account if you rolled over to gold.
Is gold IRA still a “thing”?
A lot of people have been doing 401k rollover to silver or gold in recent times. The question stays the same? What are the top gold IRA companies you can trust? Well we do have a review of the best companies to pick for an IRA rollover.
Here is Simmer’s latest announcement:
Simmer and Jack Mines Limited (Simmers) announced today that following the success of its initial placement of shares for cash earlier this month, it had received JSE approval to issue a further 71 million ordinary shares for cash.
The issue price per share at 64.5 cents each represents a discount of 9.85% to the 30 day weighted average price ended 19 October 2015, the date the issue price was agreed.
The additional funds will be used to fund ongoing projects, primarily 90% held Ezulwini Mining Company which is set to acquire the former Randfontein Estates number four shaft on the West Rand from Harmony.
Self directed IRA and the acquisition of Randfontein
“The acquisition of Randfontein four shaft, subject to the granting of mining rights, is in it final stages,” said Gordon Miller, chief executive of Simmers. “Having received court sanction on 20 October for the Simmers scheme of arrangement at Buffelsfontein, underground operations have also resumed in the North West,” he added
“These additional funds will help realise the value inherent in these assets.”