Member Info for Gibbo1066

Hello Simon, No news on whether the concentrator unit will actually turn up in June? Shares still suspended, nothing from the PUNO affair, nothing on Gold production. The only bit of good news which we have access to is the water level is dropping. I hope the management team at CRND has a plan to exploit the Gold underground as it seems we may have access reasonably soon. I am actually looking forward to the next three months, there is a great deal to be reported from CRND. Best regards Simon

... may include the sale of the operating assets... oh how I would love to know the water depth at the moment, if there is a continued significant drop, I truly hope our board knows how to get value out of our business. I'd like to see a £ 0.10 / $ 0.13 per share + sale, anything over this and I think we are quids in. Exciting times... I hope. This is CRND after all.

Just out of interest... England from the 2015 world cup, out in the first round... according to the papers most had bought into LGO on the recommendation of the Kit Man! Along comes Eddie Jones and turns us into World beaters... 18 match winning streak, only those pesky Irish getting on our way ( and the way of the All Blacks as well ) to world domination... I hope we can draw the same conclusion from LK's tenure at LGO / Columbus...

Are we on the cusp of a new era for CRND? At the current rate of fall we will have access to the hi ore grades underground in less than 4 weeks. With the new concentrator unit arriving soon ( we havent been told to the contrary ), we may yet get our money back on this Gold mine!

Hello Simon, It would help considerably if we, as shareholders in CRND, were given access to regular information on the status of our company. Although you have been considerably better at replying to my emails, we are still not being kept in the loop on our Gold production and or if our cash flow issue has been resolved. No mention of the PUNO affair or if the concentrator unit will actually arrive in mid-June. I appreciate there are regulatory issue you need to overcome before making some announcements, but over 1 year for the Gold production figures is a terrible state of affairs. Someone within CRND knows this information, why is it not being shared with the shareholders who have borne the brunt of a share collapse? A small ray of hope that we actually are producing Gold will help. I look forward to the installation and commissioning of the concentrator unit as I believe this to be a pivotal moment in CRND’s chequered history, I trust that the production figures will be shared on a more regular basis. Best regards & enjoy the long weekend. Simon

You are not alone... if that's any consolation... but progress is underway.

Another metre drop in 24 hours... have the govt got control of these water levels now? At this rate we could be back to a level where we can operate both on the surface and underground within 1 month, just in time for our concentrator unit to arrive ( if they have scraped together the funds to complete the transaction ) if that doesn't make us an attractive proposition I don't know what will.

32 metres to go... then we have access to millions of tons of high grade ore... worth... Billions? Must stop the wishful thinking.

Thanks for your reply Simon. I know a number of shareholders in CRND are asking the same questions – exactly when will we find out the production of Gold from our own raw material and the same for the agreement signed in July 2016. As it stands we have had no update on the Gold production since June last year which in my opinion is leading to questions being asked regarding the potential for ‘cute’ deals in the background. It really is a simple question Simon, I don’t want any advantage, just an RNS stating how much we are actually producing and how much is attributable to CRND, we are after all a Gold production company. Best regards Simon

Dear Simon, Thank you for your e mail. I am sorry I have not replied to you sooner – I did ready your e mail but was unwell last week and ended up having to go to hospital last Friday. I, like you, am also disappointed at the difficulties which the company has faced and in particular this year. We have been very unlucky. Please be assured that your board is devoting considerable time and effort towards finding an appropriate outcome for shareholders. I note your statements about any disposal of the assets. Be further assured that, if and to the extent that occurs, which we very hope will not be the case, any such disposal would be on appropriate arm’s length terms. There will be, at least for such time as I am this company’s Chairman, no cute deals at Central Rand. We continue to work to seek to leverage value from the assets. We are seeking to ensure, now people are back on site, that production resumes as soon as it possibly can and we shall update the market in early course. Regards Simon

We are in the hands of our Far Eastern friends. They will hold almost all of the cards and be able to secure a very good price for all of the machinery and infrastructure the long term shareholders have put into place. So near, yet so far... I believe CRND will be a very profitable business for someone, just not the existing shareholders or at least thats my take currently.

Dear Simon, I have read the latest RNS’s regarding our position and am saddened by the current state of Central Rand. I have been a shareholder for a considerable amount of time and still see the potential in our business and its assets. As a shareholder, if the business is to be offered for sale, I trust that the existing shareholders will be offer the chance to offer additional funds to maintain the existing structure and that any production information which will be offered to a potential purchaser will be shared amongst us. If this meant a delay in the arrival of the Concentrator unit to allow for the funds to be raised, I can see this being advantageous to the current shareholders and the company, as we all know the potential and the value of infrastructure put in place over the past 10 years. I would personally find it difficult to accept a situation where the financial troubles of our company are kept to a select few who could potentially benefit considerably from the purchase of our company. I only seek a fair and reasonable outcome to our current position. I have requested a read receipt for this email as I want to be sure that the advisors and current board members are fully aware of this request and to ensure an open and fair opportunity for all concerned. Best regards Simon

See my comments at 15:58... he got the shares for next to nothing, he then offers to buy the companies assets for again next to nothing, to help out poor old Central Rand. Lets say he pays 8 - 10m in total... compare that against the 150m we were on offer for a couple of years ago... dont forget there is the 166m ( lowest calcs for the 2.3m tonnes of ore they have just bought. ) All in all, a very good deal for our fiends from the Far East.

Oh, just forgot the convertible loan notes too... anybody need some additional toilet paper, I have a number of share certificates that are covered in Gold that would make an excellent addition to any bathroom... shame its the word GOLD and not the actual product. I'm going to have a glass of Champagne tonight, I'm still alive, just a little poorer. Dammit.

I'm speechless, though in hindsight, the industrial action will play into the hands of our suitors... Ill bet the concentrator machinery is part of this money and they wont release until they have been paid...Cue offers to help us out around $8 million with the first $1.5 million already paid in loans. We will be lucky to get 2p per share. If anyone wants to club together their shareholdings to see if we can put a stop or at least agree a better price should it all go horribly wrong, I'm happy to chip in my 1.1m shares or 0.3%... Dammit, I really thought I had a proverbial gold mine here.

Someone is going to pick this company up for next to nothing unless we as shareholders act collectively and pressure the company into releasing these figures. We are worth at least 10p per share based on 300,000,000 shares outstanding in my opinion and I've based that on the lowest scraps of information I can retrieve from the scant RNS's we have put up with over the past year. Come on, its our business, make some noise & be heard or our friends from the Far East are going to sail in and snaffle up CRND for NOTHING. $3 or 4 million for $165m worth of Gold using the machinery they produced. Its beginning to be rather pungent.

As shareholders we should all be chasing the company for gold production news, it is after all what we do... produce GOLD! The market can only act on information and as such they have had nothing to speak of since June last year. Write to the company and its advisers and demand production figures. I have, but one voice isnt enough.

In case you hadn't realised, I am more than slightly angry now... Thanks Jonathan, I appreciate your reply. To have had no update on the Gold production from a Gold producing company who have signed tolling agreements and commenced operations on that agreement almost 8 months ago just doesn’t stack up, especially as one of our investors seems to be happy to loan money at very favourable rates. Do they have access to information that other shareholders don’t? Its time for CRND to start opening up, the shareholders have supported their efforts for long enough and to be sitting here at a valuation of $1.4 ( we were worth more when we had access to less! ) when we have a tolling agreement in place ( which we don’t know how much we make on – OK, this could be commercially sensitive. ) access to 2.3m tonnes of material to work with, millions of pounds of machinery paid for by shareholders. New machinery arriving next month to process the 2.3m tonnes of material and upgrade the grams per ton recovered. All this ontop of Johan’s magic $1250 USD per ounce of Gold profitability point. As a shareholder, I respectfully request an update on the Gold we are actually producing and which is attributable to CRND. I look forward to a reply within a reasonable timeframe of say 14 days.

Hello Simon, I am unable to leave the question of Gold production for a month largely due to the RNS issued today to one of our suppliers, as a shareholder it is only fair and reasonable that we are given updates on the production of Gold from our company. I find it incredulous that the production of Gold from CRND has been allowed to slip for over 8 months since our last update via the 2016 interim results, and these were up until June 2016 which will mean we have had no production figures for almost 1 year. I can only assume like the market and the investors in Central Rand Gold that these figures are below even the lowest estimates. The RNS from February states we are working through 500 tonnes per day. If we use the 1.8grams per ton as a guide, we should be producing 900grams per day or approx. revenue of $35,000 per day. This equates to almost $9m per year based on 261 working days per year, yet we languish at a poor valuation of $1.4m mainly in my opinion because we haven’t been given any updates on Gold production ( PUNO still needs to be updated as this was due in Feb / March). I cannot imagine that one of our loans has been granted via one of our largest investors without such figures, surely the rest of the shareholders are entitled to this information too. I am not sure of the board obligations have towards their shareholders, but I don’t think it unreasonable to demonstrate that they are in fact producing Gold, even if this is very little. I like many other shareholders who have invested a considerable amount of money in CRND and its potential, require answers to this question via an RNS within a reasonable timeframe. I look forward to your reply and I will copy this email into ZAI Corporate Finance / Brandon Hill Capital / Merchantec Capital for their comments. Best regards Simon

Some of them are Granto, 500 tonnes per day with a capacity of 800... 2.3million tonnes of ore to process, but the main one & the one which we as share holders should be pressurizing the company to release is the Gold production figures and how much of it is ours. I agree with Simon Charles, the company is in a transitional year and we will be a completely different company by the end of this year once the concentrator comes on line... its the pain we are going through of such a low share price and the amount of shares that the company is issuing without the production figures. I believe we all need to write to them and force their hand. I dont really care if its good or bad, I just dont like being kept in the dark. You have the email addresses, feel free to ask your own questions. DYOR