Central Rand Gold Limited is a gold exploration and production group with a range of exciting assets at various stages of development located in the Central Rand Goldfield on the southern outskirts ofJohannesburg,South Africa.
The group’s principal operating subsidiary, Central Rand Gold South Africa Proprietary Limited, is 74% owned by Central Rand Gold (Netherlands Antilles) N.V., which is wholly owned by Central Rand Gold Limited.
Listed on the secondary boards of the London Stock Exchange (AIM) and the JSE Securities Exchange (AltX), Central Rand Gold received its first New Order Mining Right from the South African Department of Mineral Resources in August 2008 and also has seven New Order prospecting rights. Together, the mining and prospecting rights cover an area of 40 kilometres from west to east and seven kilometres from north to south.
Due to the flooding of the Central Basin, the Company suspended underground operations in October 2014 until the Central Basin water table reduces sufficiently to enable underground mining to recommence. The Company subsequently focused on mining surface and open pit operations. However, due to the grade variability from the surface operations, the Company ceased open pit mining operations in May 2016 and its short term focus will be on the rehabilitation of opened up areas, as well as processing material under the binding Tolling Agreement (the “Tolling Agreement”) in order to maintain operations.
According to the Tolling Agreement, a third party supplier of ore will source and deliver gold-bearing material to Central Rand Gold’s metallurgical plant for processing by CRG, commencing from July 2016. Under the Tolling Agreement, CRG will receive a graduated fee for processing the material in accordance with the number of tonnes processed through the metallurgical plant.
With its head office conveniently positioned at its southern Johannesburg mine site, the group employs around 128 permanent and temporary staff (as at 31 December 2015) across its administrative, mining and metallurgical operations. It has 95,195,808 shares in issue with a market capitalisation (as at 31 December 2015) of around £2,141,906 (US$ 3 million).
The Central Rand Goldfield was intensively mined between 1886 (when gold was first discovered on theWitwatersrand) and the early 1970s, with overall gold output estimated at around 250 million ounces.
Due to a number of factors – depressed gold prices, ageing infrastructure, deepening mining shafts and a reduction in the availability of high grade reefs – the area was considered “worked out.”
Many lower grade areas were not mined at all during this near-century of mining, leaving behind substantial volumes of gold-bearing ore. These areas are now the focus of the exploration and mining activities being undertaken by Central Rand Gold which has comprehensively researched the geology, tested mining methodologies and devised a strategy to extract commercially viable gold deposits.
L... T...Chief Executive Officer
Effective 1 year ago, and will leave on january 2018
S... C...Independent Non-Executive Chairman
Effective 10 months ago
J... H...Non-Executive Director
Effective 3 years ago
S... S...Company Secretary
Effective 1 year ago
Left the company less than a year ago
J... R...Head, Mining
Left 4 months ago