10th Mar 2010 18:16
Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining
10 March 2010
Central African Gold Plc ('CAG' or 'the Company')
Disposal of Malian Assets - Expected Date for Completion
Central African Gold Plc, the AIM quoted gold mining and exploration company, is pleased to announce that following the Extension, announced on 2 March 2010, the conditions precedent necessary for the completion of the disposal of CAG's Malian assets ('Completion') to Colonial Resources Limited have now been satisfied and it is therefore expected that Completion will take place on 15 March 2010.
Accordingly, on 15 March 2010, the Company expects to receive the Completion Payment of US$3.4 million.
Capitalised terms in this announcement carry the same meaning as ascribed to them in the announcements dated 21 December 2009 and 2 March 2010.
A further announcement will be made in due course.
* * ENDS * *
For further information please visit www.centralafricangold.com or contact:
|
Roy Pitchford / Craig Campbell
|
Central African Gold Plc |
Tel: +44(0)77 9390 9985 Tel: +27(0)11 317 3654 |
|
Stuart Faulkner / James Spinney
|
Strand Hanson Limited |
Tel: +44(0)20 7409 3494 |
|
Hugo de Salis / Felicity Edwards |
St Brides Media and Finance Ltd |
Tel: +44(0)20 7236 1177
|
Notes to Editors
Central African Gold Plc is an established gold mining company with a portfolio of production and exploration assets in Africa. The Company has two subsidiaries in Zimbabwe: Falcon Gold Zimbabwe Limited (84.7 per cent. owned) and Olympus Gold Mines Limited (100 per cent. owned); and a subsidiary in southern Botswana with a licence covering 430.3km² of the extension of the Kraaipan greenstone belt from South Africa.
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