JSE / LSE :      MARKET CAP: ZAR      SHARE PRICE: ZAR

ABOUT Central Rand Gold Limited

Central Rand Gold Limited established in 2006, is a gold exploration and production company with operations in South Africa. They are listed on both the Johannesburg Securities Exchange (JSE:CRD) and the London Stock Exchange (LSE:CRND), with their head offices based in Johannesburg, South Africa.

The strategy employed by Central Rand Gold Limited is to become a substantial low-cost gold producer by focusing on their mining activities in the Central Rand Goldfields, as well as the development of their seven New Order prospecting rights near to the Central Rand Goldfields.

A recent analyst report from Charles Stanley Securities has indicated that Central Rand Gold are on track to becoming a profitable gold miner. The report recommends a BUY and a Prospect Theory (PT) of 2.34p, which offers more than three times the current share price, and further states that “CRG offers investors the opportunity to realise considerable returns”.

DIRECTORS

DIRECTORS

Sarel Johan du Toit (Executive CEO)
Patrick Malaza (Executive FD)

BOARD MEMBERS

John Michael McMahon (Non-Executive Chairman)
Miklos Salamon (Non-Executive Director)

PROJECTS

Summary - The Group has a JORC/SAMREC compliant Inferred and Indicated Resource of 36.7m oz of gold over the above Prospecting tenement area. The Southern Deeps New Order prospecting right application, if granted, would extend the Central Rand Project by a further 13 km to the south.

The current mining target is two large, geologically identified, Main Reef ore shoots within the Central and West Consolidated Main Reef (CMR) JORC Reserves. The ore body is accessed from the existing box cut at Slot 8 using a 5 m wide by 5.3 m high decline developed in the footwall of the Main Reef at a downward gradient of 1:7. The decline had progressed approximately 810 linear meters and was about 110 vertical meters below surface at the end of March 2010. The decline has been developed in a south-westerly direction to establish the Central stoping blocks. A second decline servicing the West ore shoot will be established via a connecting decline from the Central decline.

A highly mechanised underground mining method is being used to extract the Main Reef. The reef is being accessed via 4 m wide by 4.8 m high cross-cuts developed from the decline to intersect the Main Reef at about 11.5 m vertical intervals. The reef drives are being developed east and west of the cross-cut to the limits of the ore shoot leaving a 15 m long stope panel between each reef drive.


CMR West’s Competent Person’s Report  - CMR West is the subject of the most recent Competent Person’s Report (CPR) produced by Venmyn Rand. CMR West is an operational underground and opencast gold mine, utilising conventional stoping and opencast extraction methods as well as an in-house processing facility. For the first time since flotation consecutive positive monthly cash flows have been reported. This is due to the introduction of more traditional hand-held stoping techniques.

Due to the below water mineral resources resulting from water ingress no longer technically able to meet SAMREC reporting standards, Central Rand Gold was required to re-evaluate their asset base. The CPR estimates resources up to 450mbs of 4.51Moz at an average grade of 5.34g/t. In the table alongside, “Resource Target” refers to everything below 450m. These Resource Targets may be reclaimed through underground pumping and dewatering programmes.


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