CENTRAL RAND GOLD LIMITED - Concentrator Plant and Operational and Financial Update

2017-09-13 10:30:00

CRD 201709130019A
Concentrator Plant and Operational and Financial Update

Central Rand Gold Limited
(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 2007/019223/10)
ISIN: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
(“Central Rand Gold” or the “Company”)


CONCENTRATOR PLANT AND OPERATIONAL AND FINANCIAL UPDATE


Concentrator Plant

Shareholders are referred to previous announcements, the most recent of which was dated 20 April
2017, wherein they were advised that the concentrator equipment, which had been ordered from
China, was expected to be delivered to South Africa in mid-June 2017.

Shareholders are hereby advised that the concentrator plant has now arrived in South Africa after
some delays and has been transported to site in containers. The containers are expected to be off-
loaded by 14 September 2017. It is anticipated that construction will commence in the beginning of
October 2017 and that the concentrator plant will be fully on line by December 2017.

The manufacturer will be sending four engineers to assist with the installation and commissioning of
the concentrator plant.

Operational and Financial Update

Whilst excavation and processing operations have stabilised at an operational level, the financial
position of the Company nevertheless remains extremely serious. The Company carries significant
debt and has a number of creditors. The directors are actively pursuing financing opportunities for
the Company and are in discussions with a number of parties about those opportunities. Any such
financing, if forthcoming, would be likely to be significantly dilutive to shareholders and may also
involve the Company disposing of all or of a significant part of its operations to a third party better
able to provide the capital required to provide a meaningful return from those operations, which are
proving very difficult to achieve under the Company’s current capital structure.

For further information, please contact:

Central Rand Gold                                                                +27 (0) 87 310 4400
Lola Trollip

ZAI Corporate Finance Ltd - Nominated Adviser                                   +44 (0) 20 7060 2220
John Treacy

Brandon Hill Capital – Broker                                                  +44 (0) 20 3463 5000
Jonathan Evans / Wei Jiao

Merchantec Capital - JSE Sponsor                                                 +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves

Johannesburg
13 September 2017
The information communicated in this announcement is inside information for the purposes of Article
7 of Market Abuse Regulation 596/2014 ('MAR').

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