26th Feb 2009 14:00
|
Immediate Release |
26 Februaury 2008 |
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 2007/0192231/10)
ISIN: GG00B24HM601
Share code on LSE: CRND
Share code on JSE: CRD
New Order Mining and Prospecting Rights Successfully Granted to Central Rand Gold SA
Central Rand Gold Limited ("CRG"), the gold mining and exploration company is pleased to announce that it has received notification from South Africa's Department of Minerals and Energy that its principal operating subsidiary, Central Rand Gold SA (Pty) Limited ("CRGSA") has been granted New Order Mining and Prospecting Rights over seven tenements pursuant to applications lodged in accordance with section 11 of South Africa's Mineral and Petroleum Resources Development Act of 2002 ("s11 Applications").
For the tenement map, please refer to CRG's website: www.centralrandgold.com
The awarding of the s11 Applications follows the granting of the first New Order Mining Right for Consolidated Main Reef, Langlaagte and Crown Mines tenements announced on 17 September 2008, and allows CRG to apply for New Order Mining Rights for the rest of the tenements covered by the s11 Applications outlined in the map above.
The New Order Mining and Prospecting Rights granted to CRGSA and its wholly owned subsidiary, Ferreira Estate and Investment Company Limited ("FEIC"), are referred to in the map above and detailed in the table below:
|
Tenement Name |
Area (Hectares) |
|
Consolidated Main Reef |
5 594 |
|
Crown Mines |
|
|
City Deeps |
|
|
Langlaagte |
510 |
|
Village Main |
1 535 |
|
Robinson Deeps |
|
|
Anglogold Ashanti |
3 514 |
These s11 Applications were granted on February 25, 2009, and consequently CRGSA will, on registration of the notarial cession and transfer in the Mineral Titles Office (an administrative process), be the registered right holder of the following New Order Prospecting Rights:
Village Main and Robinson Deep (transferred from Rand Quest Syndicate Limited);
The AngloGold Ashanti Area (transferred from Anglogold Ashanti Limited)
Similarly, FEIC is the holder in respect of the following New Order Mining and Prospecting Rights:
Consolidated Main Reef;
Crown Mines;
City Deeps; and
Langlaagte tenements (transferred from Gravelotte Mines Limited)
CRGSA has additional outstanding s11 applications over the Western Areas A, B and E, Simmer & Jack and Southern Deeps tenements.
Commenting on the granting of the above-mentioned New Order Mining and Prospecting Rights to CRGSA, Mike Sullivan, Chief Operating Officer of Central Rand Gold, said: "From an operational point of view, this is a highly positive step forward for us as the contiguous nature of the rights granted will enable us to optimise the development and production schedules over the entire area."
Issued on behalf of: Central Rand Gold Limited
Date: 26 February 2009
Contact:
Johan du Toit +27 (0) 11 551 4000
Wayne Epstein +27 (0) 11 551 4000
Enquiries:
Evolution Securities Limited +44 (0) 20 7071 4300
Simon Edwards / Chris Sim / Neil Elliot
Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 2307
Thato Morojele / Annerie Britz
Buchanan Communications Limited +44 (0) 20 7466 5000
Bobby Morse / Ben Willey
Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 772 1033
Jenni Newman / Megann Outram
Related Shares:
Central Rand Gold