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20/07/2017
Orezone Announces Appointment of New Director
 
07/07/2017
ENDEAVOUR ANNOUNCES THE RETIREMENT OF ITS COO
 
31/05/2017
RETIREMENT OF DEPUTY CHAIRMAN - Mineral Deposits Limited
 
 
 
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   20/05/2015
 
Central Rand Gold wants to raise R11m
 

Business Day  reports that Central Rand Gold is raising about R11m in a heavily discounted rights issue to advance its strategy of mining surface material and pay down debt after it stopped underground mining when its shafts were flooded last October.

Central Rand is the subject of due diligence studies by Chinese companies wanting to buy its assets, which are primarily defunct mining areas south of Johannesburg. Its business strategy was to mine reefs left behind because they were of a relatively low grade.

Four Chinese companies have until June 12 to complete their studies. The assets could be sold for up to $150m, but the company warned there was no certainty of a sale. The proceeds of the sale would probably be distributed to shareholders of the parent.

Central Rand hopes to resume underground mining in the second half of next year once water levels have been reduced from the prevailing level of 144m below surface.

The capital raising will fund surface operations, repay creditors and complete the sale process with a Chinese company.
 
Source: Business Day

 
 
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