Member Info for Gibbo1066

Dear Simon, Thank you for your reply. I do not wish to take up yours or Lola’s valuable time any more than is necessary, but the lack of production details is obviously hurting our share price. The latest RNS was scant at best, I don’t understand why after 8 months of the tolling deal we, as shareholders in CRND, haven’t been informed of how the relationship has worked out. We know that you are working through 500 tonnes per day( RNS 23rd Feb 2017 ), but what does that mean in terms of Gold production? How much of this is attributable to CRND? You will note that I have and will always request that the information is shared via an RNS. If the board are concerned about delivering shareholder value, and that the board is putting into place machinery to do this, perhaps an RNS giving, not only the existing shareholders, but the market in general an overview of our boards intentions, it will either underpin our current low valuation or give us a boost which we so desperately need and give the board a stronger position to negotiate from. On a separate note, when is the next time the board is allowed to purchase shares in CRND on the open market? I will write again in 1 month if nothing is forthcoming within this time. Best regards Simon

All of the above Bionic... I've reached the end of my tether for silence, they board are getting away with selling shares cheap without releasing figures... something just isnt right and I will get to the bottom of it.

Dear Mr Gibbons, I am now formally replying to your 20 April 2017 e mail to me. I am sorry if you feel that you are not being listened to and that your concerns are not being addressed. Please be assured that our company’s new board is very mindful of its duties to shareholders. I suspect the following will still be regarded as inadequate for you, but please understand that in order to avoid giving any one particular investor financially potentially significant information that is not available to all, we have a strict policy of not replying to the sort of questions raised in your e mail regarding production rates. We keep the market updated with trading statements where required as a matter of law and market regulation and we liaise regularly with our Nominated Adviser and broker. Please be assured however that not only I, but the whole board, are concerned to deliver and return value to our patient shareholders and we are working hard to achieve this. This year is a critical one for our company. It is in the nature of our business, not only on excavation but also processing, that many of our actions have a long lead time before their benefit is seen and we work in in an industry where unforeseen events can be disruptive of even the best laid plans. Please bear with us while we try to implement our strategy for success. Sincerely, Simon Charles

Its a start HiggyP, now I know that one of them replies I will be on their case until we get something. There is a reason why the Chinese have invested over 1 million in loans ( including a 98k loan ) and my take is that its positive. DYOR

Yeah! My first reply... Dear Mr Gibbons, My apologies, you have contacted me and I have not yet replied to you. I am today back in London and shall reply to your question. Sincerely Simon Charles

Sent to Lola, Info and our Chairman Simon Charles... Morning Lola, I trust today finds you well. As a Gold company, its is not unreasonable to let your shareholders know how much Gold you are actually producing on a regular basis. The RNS from 23rd states approx. 500 Tonnes per day of material are being processed, but gives no actual Gold production figures. The latest RNS almost wasn’t worth releasing as it said practically nothing to help our beleaguered share price. Respectfully, I would like to request an RNS which gives your long suffering shareholders some actual figures on which we can base our investments. It would also be good to see some movement on the PUNO case as the last update on this was back in 2016. I await a reply as I know from speaking to other shareholders that you do offer replies, even if they are just… ‘we’re working it…!’ Best regards Simon

sorry that should read 40,000 per kilo and I have allowed for the 900 grams

http://knelsongravity.xplorex.com/page664.htm - not the most riveting read I have had, but it shows the potential

I know what you mean TerryL, but there is something that doesnt stack up for me which is why I am holding on. OK, if I sell today, I will lose a considerable amount of money. However, we have a Chinese investor who has offered us very good terms on a loan of $1m with 500,000 already in the accounts and a further 500,000 to come. The latest RNS is about as basic as you can get, nothing of operational interest, no production update, basically a few line hastily written to pacify no one, odd. We know from a previous RNS that we are grinding our way through 500tons a day - thats 900grams of gold at 1.8grams per ton or approx $8.2 million a year using calcs I have worked on before ( 261 working days x 35,000 per kilo). Yet we are valued at $2million and we have 2.3million tons of ore at 0.7grams per ton waiting for our new machinery. I cannot imagine any CEO would sanction a purchase without cast iron figures to back it up. Still I'm happy to wait... whilst sending weekly emails to Lola complaining about the lack of transparency. I still stick by the $50m valuation if all falls into place, but we will have been bought by then... hopefully at a good price and above my BEP. DYOR.

You had a reply HiggyP? Any chance of posting it here? I have emailed about 15 times and have yet to receive one! Thanks

Hi Salmo, we are valued at £1.45m currently with no production figures. As it stands we might as well be an earth moving company who does exactly that... move earth from one place to the next. My prediction is based on the what we will have in place in 6 months, namely the concentrator. If, IF we can extract the lower amount of gold from the test results, this will make our pile of rubble worth approx £188m. Obviously if we extract a higher percentage, the the valuation will increase. Whilst we are working on this, hopefully the Govt will make headway in terms of the dewatering and after this we will have access to the higher grade underground ore. I hold quite a lot of stock in CRND and I am obviously hurting from the share collapse, but I can see a small glimmer of light at the end of the tunnel, but I dont expect it to happen over night. I also dont expect us to be an AIM company by this time next year, with the Chinese buying us, I just hope our current management are capable of extracting a fair value for our company. So, in short, I can see us valued at approx $50m if it all falls into place. DYOR though.

http://www.proactiveinvestors.co.uk/companies/news/167024/back-to-the-future-for-central-rand-167024.html Just reread this news release... it does make for interesting reading, and it partially answers some of my questions. Still, even at 80% and 2.5grams per ton ( lower end ) we are looking at a value of $188m for the dumps. I can see this company at value of $40 - 50m for the dump alone... then we get back to the dewatering... PATIENCE is the key... I hope. As always DYOR

I have now copied all the directors and the Chairman on my emails, to have no production update is borderline criminal especially as our share price is suffering because of it. I have also asked for costs and production estimates from the new Concentrator unit, I cannot believe they haven't produced figures ( high and low ) for such a large purchase. I'd like to think my simple back of the fag packet calcs are within those parameters, if they are then patience really is the key to this. If they're not, well why are we spending money buying this Concentrator? Dont get me started on PUNO and as for the dewatering, well, this is not down to CRND, its a government lead project using our pumps, but we have 2.3 million tons ( 3 years at 60,000 tons per month and $66m in revenue at 0.7 grams per ton) for low grade material to use up first which is why we are buying the concentrator.... reading between the lines and I'm back to October this year again for a significant change in our fortunes. DYOR obviously.

I have been using these to send emails, to date I have had no reply! 'lola.trollip@centralrandgold.com' 'info@centralrandgold.com'

Hello Lola, It’s a bit of a one sided conversation, but I need some answers. Once again, the RNS says very little, sorry nothing, about the production of Gold from our company. We are 6 months into the 3rd party agreement so it is reasonable to assume that you have figures from which we can work. Centrifugal Concentrators 60,000 tons capacity per month even at a recovery rate of 0.7grams is 84 kilos or $1.7m per month at the current rate. We have a fabulous opportunity to raise the profile of our company and get it valued at a reasonable amount, I don’t understand why you are being so reticent about the production figures. I live in hope of a reply. Best regards Simon

sorry Higgyp what do you mean?

Something isnt right. We have access to 2.3 million tonnes of raw material from the past century's mining activity. We are being quoted anywhere from 0.7g per ton to 5.9 grams per ton. Lets take 2 grams as an average and work out some figures. If we work at a average of 70% capacity from a capability of 60,000 per month, this equates to 42,000 tons per month. 42,000 x 2grams = 84,000 grams or 84kgs. At current market rates this is almost $3.5m per month or almost $41m per year. And yet we are valued at $1.8m. At the prices we are getting for our shares now, there is no point in my opinion in selling, we might as well see this pony to the end of the race. I said last year we would be in a better position by the end of October 2016, I was wrong, but I am hoping I was a year out and it will be October 2017.

The joke is we dont know if they are or not... we've been given the tonnage, but no gold production figures. I will write an stronger worded email next.

Hello Lola, I have a question from one of recent RNS’s 23rd Feb – operational update ….’Together, Mill No 1 and Mill No 3, have capacity to provide a nameplate milling of 800 tonnes per day, with production at that stage being approximately 500 tonnes of toll treatment materials per day.’ Assuming your headline recovery rate of 1.8 grams per ton this gives approx. 900 grams per day. If we also assume that you work 5 days per week, 52 weeks per annum and a $40,000 per kilo Gold price, this equates to an approximate revenue of $ 9,500,000.00. This is at the low end of your capabilities and $ 15,000,000.00 if we are working at a maximum capacity. Without accurate information, it is all guesswork. I don’t think its unreasonable to request an update on the amount of Gold we are producing considering the amount of shares that are being offered to the companies financiers. I am not holding my breath for a reply as I have received none to date. Simon

So between us we are holding around 1.5% of CRND, I'm with you, whats the point in selling at his level, I'm either going to lose my shirt or make a small fortune.