| Wed 4 Mar 2009, 11:00 | | CRD - Central Rand Gold - Commencement Of Decline Development |
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CRD
CRD
CRD - Central Rand Gold - Commencement Of Decline Development
Central Rand Gold Limited (`CRG` or `the Company`)
(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: GG00B24HM601
Share code on LSE: CRND
Share code on JSE: CRD
COMMENCEMENT OF DECLINE DEVELOPMENT
Central Rand Gold Limited ("CRG" or "the Company") is pleased to announce the
completion of the portal excavation and commencement of the decline
development on its Slot 8 decline on CMR in Johannesburg, South Africa.
The 6 metre x 5 metre decline dipping at 8? has been designed to access ore
on the Main Reef sequence and has been positioned in the footwall of the Main
Reef. The decline continuation from the portal face is in line with target
timelines. Importantly, CRG will continue mining surface material while the
decline is being developed.
The Company has contracted the expertise of a consortium of well established
mining contracting companies ("the consortium") to perform the construction
of the decline and breakaways from the portal high wall to the intersection
of reef at levels 1 and 2 underground.
The consortium is referred to as the Mathomo Mining Consortium ("Mathomo")
(after the North Sotho name meaning "beginning" or "innovation"), and
comprises Group T, Paradigm Project Management (PPM), and Grinaker LTA Mining
(a business unit of Aveng (Africa) Ltd). Mathomo is focussed on providing CRG
with a holistic integrated project delivery solution.
Group T has been contracted to CRG since project inception to perform the
Company`s shaft re-accessing programme, and has an excellent safety record
for the work done to date, contributing to CRG`s achievement of over 1
million injury free man hours . Group T will continue this work with the
Company, providing the consortium with its resources and its considerable
knowledge and experience for the work to be performed at slot 8.
The companies in the consortium have extensive experience in managing large
scale projects in the mining industry, particularly in decline development
and mining (surface and underground). Projects undertaken by these companies
include mine and decline development work for companies such as:
Company Mine Work Performed
Great Basin Gold Burnstone Sinking of main production
shaft
Aflease Gold Modder East Sinking of main
ventilation/service shaft
Anglo Coal Zondagfontein Main shaft, ventilation
shaft, decline shaft
Rio Tinto Palabora Mining Sinking of Western
Company Extention main decline
De Beers Finsch, Cullinan Block development
and Kimberley
Mathomo is fully aligned with and supportive of the CRG philosophy of "a
company with a new approach to mining and people in South Africa". In this
regard Mathomo supports CRG`s safety, environmental, and social
responsibility initiatives.
Issued on behalf of: Central Rand Gold Limited
Date: 4 March 2009
For further information please contact:
Johan Du Toit (011) 551 4000
Wayne Epstein
Enquiries:
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / Ben Willey
Evolution Securities Limited +44 (0) 20 7071 4300
Simon Edwards / Chris Sim / Neil Elliot
Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 772 1033
Jenni Newman / Megann Outram
Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 2307
Thato Morojele / Annerie Britz/ Melanie de Nysschen
Date: 04/03/2009 11:00:02 Produced by the JSE SENS Department.
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