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CENTRAL RAND GOLD LIMITED - Fundraising and Operational Update

Release Date: 20/04/2017 09:09:00      Code(s): CRD       PDF(s):  
Fundraising and Operational Update

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”)


Fundraising and Operational Update


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 (0) 87 310 4400
Lola Trollip


ZAI Corporate Finance Limited – Nominated Adviser                                    +44 (0) 20 7060 2220
John Treacy / Jamie Spotswood


Brandon Hill Capital Limited – Broker                                                +44 (0) 20 3463 5000
Alex Walker / Jonathan Evans / Wei Jiao


Merchantec Capital – JSE Sponsor                                                      +27 (0) 11 325 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").

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