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CENTRAL RAND GOLD LIMITED - Loan Agreement and Industrial Action

Release Date: 10/05/2017 09:50:00      Code(s): CRD       PDF(s):  
Loan Agreement and Industrial Action

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”)


Loan Agreement and Industrial Action


Loan Agreement

Further to the announcement dated 25 November 2016, regarding "the Loan Agreement" with Mr. Jia
Bang Wang, the Company wishes to report that it has received a further tranche of US$250,000. The
Company is currently working with Mr. Wang to assist with the release of the balance of the loan monies.

The board of directors are mindful of the Company's cash position, which has been improved by the
delivery of this tranche of the loan, and will continue to exercise prudence in its expenditure. The
Company will update the market on progress of the shipping, instalment and commissioning of the
Concentrator Circuit presently and will provide a further operational update in the coming days.

Industrial Relations Update

The negotiation of annual wage increases has ended in a dead lock, and the employees have embarked
on industrial action in the form of a strike. The Company and Union Officials have met at the CCMA to
resolve issues. To date, 10 May 2017, the Company has lost 5 days' production, as a direct result of
the strike.

On 9 May 2017, the picketing rules have been signed at the CCMA, thus allowing non-striking workers
to return to work. The operation will be run with skeleton staff in the interim.



For further information, please contact:

Central Rand Gold                                                                 +27 87 310 4400
Lola Trollip

ZAI Corporate Finance Ltd - Nominated Adviser & Broker                            +44 20 7060 2220
John Treacy / Tim Coffman

Brandon Hill Capital Limited - Broker                                             +44 20 3463 5000
Jonathan Evans / Wei Jiao

Merchantec Capital - JSE Sponsor                                                 +27 11 325 6363
Monique Martinez / Marcel Goncalves


10 May 2017

The information communicated in this announcement is inside information for the purposes of Article 7
of Market Abuse Regulation 596/2014 ("MAR").

Date: 10/05/2017 09:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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