Central Rand Gold Limited Fundraising and Operational Update (7929C)
20 April 2017 - 5:00PM
UK Regulatory
TIDMCRND
RNS Number : 7929C
Central Rand Gold Limited
20 April 2017
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 2007/019223/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
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Fundraising and Operational Update
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Funding
As announced on 10 January 2017, the Company entered into a loan
agreement with Mr Jia Bang Wang in the amount of US$1 million. The
first tranche, in an amount of US$500,000, has been received by the
Company. The transfer of the second tranche, in an amount of
US$500,000, has been delayed due to certain exchange restrictions.
However, efforts are being made to expedite the transfer process.
The directors continue to monitor the Company's cash position.
Operational Update
The Company continues to work on executing the strategy of
installing centrifugal concentrators. The anticipated date of
commissioning thereof is still the third quarter of 2017. As
previously announced, the concentrator equipment has been ordered
from China, and the Company is pleased to announce that the
equipment has now been manufactured. Delivery to South Africa is
expected to occur in mid-June 2017.
The open pit mining which started at the beginning of last
month, is continuing, and materials have been delivered to the
plant for crushing, prior to processing. Third party batch toll
treatment materials are also being fed to the plant.
For further information, please contact:
Central Rand Gold +27 87 310 4400
Lola Trollip
ZAI Corporate Finance Limited - Nominated Adviser +44 20 7060
2220
John Treacy / Jamie Spotswood
Brandon Hill Capital Limited - Broker +44 20 3463 5000
Alex Walker / Jonathan Evans / Wei Jiao
Merchantec Capital - JSE Sponsor +27 11325 6363
Monique Martinez / Marcel Goncalves
Johannesburg
20 April 2017
Sponsor
Merchantec Capital
The information communicated in this announcement is inside
information for the purposes of Article 7 of Market Abuse
Regulation 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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