Central Rand Gold After Licence Renewal and Gold Production Increasing

15th Feb '12 by flyingswan

3 comments 4362 reads

Here is the Update on Central Rand Gold (LON:CRND).

The link is from the company website to the RNS information:
http://investors.centralrandgold.com/phoenix.zhtml?c=215882&p=irol-newsArticle&ID=1661160&highlight=

If the link does not work either visit the company website at:

http://investors.centralrandgold.com or cut and past the link to a new browser page.

I am pleased with the news myself, which I find very positive and am planning to hold my shares for at least two years; as I see cash flow in CRND and production, both increasing overtime.

CRND 2 months daily movement chart - Cup and Handle Chart for CRND

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About the Author

Flyingswan

Premium Member

3 comments

flyingswan

16th Feb '12

Another RNS for Central Rand Gold (LON:CRND): Signs Agreement with Goldplat plc to Mine in South Africa

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11116478

Please see link for details, if does not open - cut and paste to new browser page.

"Both parties believe that Crown East Main Reef and CMR Bird Reef mines contain significant gold bearing ore" "of the two sites in return for a 5% net smelter royalty to Central Rand Gold."

This will be a very useful income stream for Central Rand Gold (LON:CRND) IMHO

flyingswan

16th Feb '12

Another Central Rand Gold (LON:CRND) Update. No Problems now with Mining Licence Now:

http://www.investegate.co.uk/Article.aspx?id=201202161511215834X

I think this update makes things much clearer and more positive for Central Rand Gold (LON:CRND) moving forward. IMHO

flyingswan

5th Mar '12

Acid Mine Drainage is not a problem to Central Rand Gold (LON:CRND) Gold Production, as I do not think CRND is mining below the 250m Level, can anyone confirm?

Remember also CRND is increasing underground mining:
"Central Rand Gold is planning to increase underground production to 12 000 tons per month by the third quarter of 2012"

Last figures were:
"November - 6, 436 Tons (t) - 4.28 Grade (g/t)
December - 4 374 Tons (t) - 4.09 Grade (g/t)"

"ACID MINE DRAINAGE
The current water level in the Central Basin is 428 metres below surface. It is pleasing to note that the current rate of rise of approximately 0.3 metres per day ("mpd") is below the anticipated rate of rise of 0.5 mpd.

The Company remains engaged in discussions with Trans Caledon Tunnel Authority ("TCTA") (the appointed implementing agent by the Minister of Water Affairs) and its legal team with regards to the use of the submersible pumps purchased by the Company."

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11117519

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Central Rand Gold After Licence Renewal and Gold Production Increasing

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Flyingswan

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