Mining Right - Update (7433T)
12 December 2011 - 6:00PM
UK Regulatory
TIDMCRND
RNS Number : 7433T
Central Rand Gold Limited
12 December 2011
Central Rand Gold Limited
(Incorporated as a company with limited liability under the laws
of Guernsey,
Company Number 45108)
(Incorporated as an external company with limited liability under
the laws of South Africa,
Registration number 2007/0192231/10)
ISIN: GG00B24HM601
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
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REVIEW AND setting aside of decision to cancel mining right
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Further to the announcements of 13 October 2011 and 24 October
2011, shareholders are advised that the Minister of Mineral
Resources of the Republic of South Africa ("the Minister") and her
departmental co-respondents have elected not to oppose the
application instituted in the High Court by Ferreira Estate and
Investment Company Limited ("FEIC"), a wholly-owned subsidiary of
Central Rand Gold and the registered holder of the Company's mining
right under departmental reference number GP30/5/1/1/2/140MR
("Mining Right"), for final relief to review and set aside the
Minister's administrative decision, made on 22 September 2011, to
cancel the Mining Right ("the Decision").
The parties have accordingly agreed to have the Decision set
aside by way of a consent order (the "Order") sanctioned by the
High Court.
An enrolment date of 22 December 2011 has been secured for
purposes of obtaining this Order, on an unopposed basis and by
agreement amongst the parties.
The granting of the Order would bring a conclusion to FEIC's
legal challenge to the Decision.
CRG will continue to discuss its social and labour development
plans with the Department of Mineral Resources in order to agree a
plan that is more appropriate for CRG's revised mining plans
Further announcements will be made as appropriate.
For further information, please contact:
Central Rand Gold +27 (0) 11 674 2304
Johan du Toit / Patrick Malaza
Evolution Securities Limited +44 (0) 20 7071 4300
Chris Sim / Neil Elliot
Merchantec Capital +27 (0) 11 325 6363
Roger Pitt / Monique Martinez
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / James Strong
Jenni Newman Public Relations (Proprietary) Limited +27 (0) 11
506 7351
Jenni Newman
12 December 2011
Johannesburg
JSE Sponsor
Merchantec Capital
This information is provided by RNS
The company news service from the London Stock Exchange
END
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