Central Rand Gold stock falls on wider operating loss

(ShareCast News) - Central Rand Gold announced its unaudited interim results for the six months to 30 June on Wednesday, with its loss before interest, tax and depreciation widening to $1.9m, from $0.7m a year earlier.The AIM-traded firm said the larger loss could be put down to to the cessation of open pit mining in March.As a result, internal gold production decreased by 23% to 2,637 ounces, and and overall revenue decreased to $1.8m from $4.4m.The company entered into a tolling agreement in July with a third party, Nikkel Mining, who will provide product to be treated through the plant."The Tolling agreement is in the form of a value per tonne of throughput in the plant, which is anticipated to raise income for Central Rand Gold," the company's board said in a statement."This in turn will assist in the company being right-sized and refocused."Cash and cash equivalents at period end totalled $0.4m."Post the period end and as previously announced, the company has identified opportunities to raise additional funding from a number of parties in order to pursue growth opportunities identified and to continue as a going concern," the board added.As at 1511 BST, shares in Central Rand Gold were down 11.69% at 1.13p.