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CRD
CRD
CRD - Central Rand Gold Limited - Toll treating
Central Rand Gold Limited
("CRG" or the "Company" or the "Group")
(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
Following CRG February 3rd announcement wherein reference was made to plans to
delay planned metallurgical upgrades and pursue short term arrangements to
process excess mining production the following update is announced:
Toll treating
The Company together with Mintails SA (Pty) Limited and Mogale Gold (Pty)
Limited (collectively referred to as MSA) have identified a commercially
beneficial opportunity arising from participating in a venture in terms of which
CRG shall contribute gold bearing ore for processing at MSA`s metallurgical gold
processing plant.
The main terms governing this arrangement are as follows:
The arrangement shall commence on the 4 February 2010 and thereafter endure for
a period of 90 calendar days ("the Pilot Phase");
MSA shall contribute a proportion of their milling and processing capabilities
of its Mogale Gold operations whilst CRG shall contribute 14 000 tons of gold
bearing ore per month for processing;
The parties have established that each stands to incur an opportunity cost for
entering into this agreement and it is the intention of the parties to first
fully recoup such opportunity and related operational costs, where after the two
parties will share in the profits, based on a grade sliding scale.
Site visit
An analyst site took place on Sunday 06 February 2011. During this visit a
presentation was made to the analysts, a copy of which may be accessed on the
Company website: www.centralrandgold.com
For further information, please contact:
7 February 2011
Johannesburg
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
For further information, please contact:
Johan du Toit +27 (0) 11 674 2304
Patrick Malaza +27 (0) 11 674 2304
Enquiries:
Evolution Securities Limited +44 (0) 20 7071 4300
Rob Collins / Chris Sim / Neil Elliot
Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 2000
Annerie Britz / Melanie de Nysschen/ Yvette Labuschagne
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / Katharine Sutton / James Strong
Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 506 7350
Jenni Newman
Date: 07/02/2011 09:02:23 Produced by the JSE SENS Department.
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