Brainworks_Capital_Management_2012_Annual_Report

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LETTER TO SHAREHOLDERS
CONSUMER FINANCE SECTOR
Investee Company: GETBUCKS FINANCIAL SERVICES ZIMBABWE LIMITED
2012 PERFORMANCE HIGHLIGHTS
GetBucks Zimbabwe is a registered microfinance company. The company started operations in August
2012 with one branch in Harare. As at 31 December 2012, a total of US$ 441 000 had been disbursed
in payroll-based loans mainly to civil servants, while five branches had been opened in Harare, Bulawayo,
Mutare, Chinhoyi and Marondera. A further two branches in Masvingo and Bindura were opened post
year-end and are now operational. In addition to the Government deduction code, five private payrolls
have also been signed-up and management are targeting to grow that number in 2013. The company
achieved a profitable position in March 2013 and with further loan growth, profitability will be enhanced.
GetBucks Zimbabwe's board of directors is comprised of the following members:
NAME OF DIRECTOR NATIONALITY TYPE OF DIRECTORSHIP
Richard Muirimi Zimbabwean Non-Executive Chairman
Vulindlela Ndlovu Zimbabwean Non-Executive Director
Johan Jonck South African Non-Executive Director
Dave van Niekerk South African Non-Executive Director
Gerrie Fourie South African Executive Director
Daniel Jonck South African Non-Executive Director
George Manyere Zimbabwean Non-Executive Director
Walter Kambwanji Zimbabwean Executive Director
The shareholding structure of GetBucks Zimbabwe is as follows:
GetBucks Limited 55%
Brainworks Capital Management 40%
Other 5%
GOLD EXPLORATION AND MINING SECTOR
Investee Company: BCM GOLD (PRIVATE) LIMITED
In 2011, SRK Consulting, commenced exploration of the Lower Gweru Mines claims, a group of 1,600
claims covering some 15km 2 in an area of previous known mining activity, some 25km north west of
Gweru. In 2012, the second stage of the soil sampling and trenching were completed. SRK Consulting
issued a report, which recommend proceeding with the drilling programme, together with a budget which
was approved by the Board.
SRK also completed the determination of a first stage resource (surface material to 10m depth) and gave
an extrapolated resource (blue sky) to 90m. This will be improved upon to a fully JORC compliance level
when the drilling programme is undertaken.
In summary, SRK have determined a Total Inferred Resource (to-date) of 10,650oz together with an
estimated resource for all the current anomalies being investigated, after completion of the approved
drilling programme, of some 200,000oz.
BRAINWORKS CAPITAL MANAGEMENT (PRIVATE) LIMITED
2012 ANNUAL REPORT