CRD - Central Rand Gold Limited - Review and setting aside of decision to cancelRelease Date: 12/12/2011 09:00:02 Code(s): CRD
CRD - Central Rand Gold Limited - Review and setting aside of decision to cancel
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)
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the "Company")
REVIEW AND SETTING ASIDE OF DECISION TO CANCEL MINING RIGHT
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
Central Rand Gold 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 Central Rand Gold`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
+27 83 628 0226 (mobile)
+27 11 726 1047 (office)
+27 83 604 0820 (mobile)
+27 11 726 1047 (office)
+27 82 338 2228 (mobile)
Farrington National Sydney
+61 2 9332 4448 (office)
+61 421 768 224 (mobile)
About Gold One
Gold One is a gold producer listed on the financial markets operated by the ASX
Limited and the JSE Limited, issuer code GDO. Its flagship operation is the
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