Central Rand Gold Limited Tolling Agreement Executed and First Ore Delivery (9563E)
July 22 2016 - 3:00AM
UK Regulatory
TIDMCRND
RNS Number : 9563E
Central Rand Gold Limited
22 July 2016
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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Tolling Agreement Executed and First Ore Delivery
Received
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Further to the "Operational, Financial and Corporate Update and
Board Changes" announcement dated 7 June 2016, regarding Toll
Treatment and Joint Venture Opportunities, the board of directors
of Central Rand Gold is pleased to provide the following update to
shareholders.
Joint Venture Tolling Agreement Update
Central Rand Gold is pleased to announce that it has completed
and executed the definitive documents which will govern the Joint
Venture Tolling Agreement ("Tolling Venture") with the third party
supplier of gold bearing ore ("Ore Supplier"). In addition, the
Company is pleased to announce that it has received multiple
deliveries of gold bearing ore from the Ore Supplier which is
presently being stockpiled on site at the Company's metallurgical
plant. The Ore Supplier will continue to deliver gold bearing ore
to the Company over the coming days, before processing of the
material by Central Rand Gold, commencing in late July 2016. The
Company is presently conducting metallurgical testing to ensure
optimum recoveries of gold are achieved from the material.
Additional Joint Venture Opportunities
The Company continues to advance due diligence and negotiations
with additional third parties regarding a variety of joint venture
alternatives. Given the commencement of the Tolling Venture, the
Joint Venture Opportunities will likely require the nameplate
capacity of the Company's existing metallurgical plant to be
increased. In this regard, the Company is working closely with
Zhejiang Golden Machinery Plant to conduct various testwork and due
diligence workstreams regarding the Joint Venture Opportunities and
the potential expansion of the existing metallurgical plant. The
Company expects to be in a position to update shareholders
regarding the Joint Venture Opportunities in the near future.
For further information, please contact:
Central Rand Gold +27(0) 87 310 4400
Lola Trollip / Nathan Taylor
Panmure Gordon (UK) Limited - Nominated Adviser & Broker +44
(0) 20 7886 2977
Adam James / James Greenwood
Merchantec Capital - JSE Sponsor +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves
22 July 2016
This information is provided by RNS
The company news service from the London Stock Exchange
END
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