Go Back Email this Link to a friend


CENTRAL RAND GOLD LIMITED - Tolling Agreement Executed and First Ore Delivery Received

Release Date: 22/07/2016 09:01:00      Code(s): CRD       PDF(s):  
Tolling Agreement Executed and First Ore Delivery Received

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”)


Tolling Agreement Executed and First Ore Delivery Received


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

Date: 22/07/2016 09:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2019 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.