| Thu 4 Dec 2008, 14:30 | | CRD - Central Rand Gold Limited - Central Rand Gold Pours Its First Gold |
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CRD
CRD
CRD - Central Rand Gold Limited - Central Rand Gold Pours Its First Gold
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)
ISIN: GG00B248M601
Share code on LSE: CRND
Share code on JSE: CRD
CENTRAL RAND GOLD POURS ITS FIRST GOLD
Trial mining progressing according to plan; commercial mining on track for
2009
Thursday 4th December 2008 - London and Johannesburg listed Central Rand
Gold ("CRG" or "the Company") has poured its first gold less than two months
after receiving its initial New Order Mining Right from the South African
Department of Minerals and Energy.
The Company`s current resource estimate comprises 22.4 million ounces in the
indicated category and 13.3 million ounces in the inferred category. CRG
expects to upgrade portions of its near surface resource to reserve in Q1
2009.
Gold bullion production has started
CRG began trial mining at its Consolidated Main Reef tenement on October 1,
2008 utilising a plant imported from Gekko Systems in Australia, which has
been processing surface material on a trial basis resulting in the first
gold pour today on Thursday, 4th December. Brief details of this
significant development are as follows:
- The gold pour, which took place at Rand Refinery on Thursday, December
4, resulted in approximately a kilogram of gold (35 oz) being poured
from material produced from CRG`s trial mining operations at slots 8
and 9 of its Consolidated Main Reef tenement in southern Johannesburg
- Trial processing through the Gekko plant, which has a capacity of 20
tonnes per hour 12,000 tonnes per month, is via a gravity recovery
circuit. A flotation circuit is also in the process of being
commissioned
- CRG received its mining right on September 17th, 2008 just 14 months
after applying for permission to mine gold and other minerals at its
Consolidated Main Reef, Langlaagte and Crown Mines tenements. Further
mining rights will be applied for during 2009 and 2010 to mine other
areas of the Central Rand Goldfield.
Safety Milestone Achieved
In addition to the considerable operational progress made during 2008, CRG
has maintained a strong focus on its occupational health and safety policy
with over one million man hours worked since the project`s commencement
without any lost time injuries.
Commercial mining on track for 2009
Following the initial gold production from trial mining using the small
Gekko plant, CRG is on schedule to commence commercial mining in 2009. The
key milestones for this are as follows:
- CIL plant ordered and expected to be commissioned by end of Q1 2009
- 30TPH Bateman plant ordered and expected to be commissioned in May 2009
- CRG will shallow mine for the next 5 years from reefs which outcrop
from surface down to 300 metres below surface; these reefs have an
average indicated grade of between 8 to 10 grams of gold per tonne.
Commenting on the gold pour, Alastair Walton, Chairman of CRG, said:
"Within a period of only two and half years, the current management team has
turned an ambitious idea into a well capitalised listed company which as of
today is one of the few new gold producers to come on stream this year. The
gold pour also demonstrates that we remain on track to deliver on the
strategy stated at the time of our IPO last year, which was to be
successfully awarded our initial New Order Mining Rights, begin trial
mining, and produce our first gold bullion by the end of 2008."
For further information please contact:
Central Rand Gold +27(0) 11 551 4000
Alastair Walton
alastair.walton@centralrandgold.com
Enquiries:
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / Ben Willey
bobbym@buchanan.uk.com
Evolution Securities Limited +44 (0) 20 7071 4300
Simon Edwards / Chris Sim / Neil Elliot
Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 772 1022 / +27 (0) 82
8828888
Jenni Newman / Megann Outram
Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 2000
Thato Morojele / Annerie Britz
Photographs of the gold pour will be available for download on CRG`s website
www.centralrandgold.com or from Buchanan Communications in London and Jenni
Newman PR in Johannesburg
Ends
Date: 04/12/2008 14:30:02 Produced by the JSE SENS Department.
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