Central Rand Gold After Licence Renewal and Gold Production Increasing
Here is the Update on Central Rand Gold (LON:CRND).
The link is from the company website to the RNS information:
http://investors.centralrandgold.com/phoenix.zhtml?c=215882&p=irol-newsArticle&ID=1661160&highlight=
If the link does not work either visit the company website at:
http://investors.centralrandgold.com or cut and past the link to a new browser page.
I am pleased with the news myself, which I find very positive and am planning to hold my shares for at least two years; as I see cash flow in CRND and production, both increasing overtime.
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Central Rand Gold Limited’s (CRG) is a holding company. The Company is engaged in gold mining and exploration. The Company focuses on gold prospecting and mining in the Central Rand Goldfield of South Africa. Its principal operating subsidiary, Central Rand Gold South Africa (Proprietary) Limited (CRGSA), is 74% held by Central Rand Gold Netherlands Antilles NV, which itself is wholly owned by the Company. The Company has seven New Order prospecting rights, which constitute from west to east, Western Areas A, B and E, Consolidated Main Reef, Langlaagte, Crown Mines, Anglodeeps, Village Main, Robinson Deep, City Deep and Simmer & Jack (the Prospecting Rights). Its subsidiaries include Central Rand Gold (Netherlands Antilles) N.V., Central Rand Gold South Africa (Proprietary) Limited, Ferreira Estates and Investment Company Limited and CRG Benefit Trust. more »
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Another RNS for Central Rand Gold (LON:CRND): Signs Agreement with Goldplat plc to Mine in South Africa
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11116478
Please see link for details, if does not open - cut and paste to new browser page.
"Both parties believe that Crown East Main Reef and CMR Bird Reef mines contain significant gold bearing ore" "of the two sites in return for a 5% net smelter royalty to Central Rand Gold."
This will be a very useful income stream for Central Rand Gold (LON:CRND) IMHO
Another Central Rand Gold (LON:CRND) Update. No Problems now with Mining Licence Now:
http://www.investegate.co.uk/Article.aspx?id=201202161511215834X
I think this update makes things much clearer and more positive for Central Rand Gold (LON:CRND) moving forward. IMHO
Acid Mine Drainage is not a problem to Central Rand Gold (LON:CRND) Gold Production, as I do not think CRND is mining below the 250m Level, can anyone confirm?
Remember also CRND is increasing underground mining:
"Central Rand Gold is planning to increase underground production to 12 000 tons per month by the third quarter of 2012"
Last figures were:
"November - 6, 436 Tons (t) - 4.28 Grade (g/t)
December - 4 374 Tons (t) - 4.09 Grade (g/t)"
"ACID MINE DRAINAGE
The current water level in the Central Basin is 428 metres below surface. It is pleasing to note that the current rate of rise of approximately 0.3 metres per day ("mpd") is below the anticipated rate of rise of 0.5 mpd.
The Company remains engaged in discussions with Trans Caledon Tunnel Authority ("TCTA") (the appointed implementing agent by the Minister of Water Affairs) and its legal team with regards to the use of the submersible pumps purchased by the Company."
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11117519