The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
It's on CRND's website for anyone who hasn't seen it: http://www.centralrandgold.com/voluntary-delisting-of-securities-operational-update-and-board-changes/ Fundamentally, very little has changed, the shares were suspended & non tradable, they have just been de-listed across the board. Mr Wang is now an Executive Director and the Chinese are in the driving seat. It still all hinges on the concentrator circuit.
Hi Simon, Thanks for the update, do you have any thought on this: https://youtu.be/3sI5i1WYdp4
Thanks for update Gibbo! Sounds promising.... it all rests on the success of the concentrator unit then. If that goes our way, it could really turn things around, lets hope Mr Wang & the Concentrator Unit can work miracles, it would be amazing if this came back from the dead. Can Mr Wang also do something with Puno? Who knows, there may even be a slim chance of under ground mining re-starting under this tenure.....
That can only be positive news, especially for 2 x plant managers. Also, Pump 1 seems to be back up & running full time again now.
Did you get a reply from Investor Relations Simon? We've got this far on a shoestring budget and appear to still just about keeping our heads above water. Gold Prices have moved higher in our favour since mid Dec 2017. We can only assume as to whether or not they've drawn down further tranches of the Jia Bang Wang $300k loan, I doubt the initial $46,650k would have been sufficient to plug the funding hole. However, due to the lack of updates we are still non the wiser! Also, Pump 1 has been pretty much out of action sine 10th Jan, which isn't good as we move in to dry season, otherwise it will be another year lost. Thankfully the water level is still holding up pretty well above 160MBS
Hi Simon, I've sent an email asking for an update as well, I suggest more do the same. It's about time we heard what the plan is going forward & if we're ever likely to recoup any value from our investments.
Nice one Simon! We need to make sure they don't forget they still have shareholders.... It seems Pump 1 is out of action for the foreseeable.
The water level is holding up pretty well at 164.32 MBS, this considering 'Pump 1' has been out of action for the majority of days between 10th Jan & 19th Feb: http://crg-sa.com/wp-content/uploads/2016/06/TCTA-Central-Basin-Schedule-2018v5.pdf
At least they're taking the time to reply to us & hopefully they will fill us on the plans going forward soon. At least they know we're still out there & interested...
http://crg-sa.com/wp-content/uploads/2016/06/TCTA-Central-Basin-Schedule-2018-Jan1.pdf Don't what happened between 3rd & 4th Jan, but water level rose 8M overnight. Back up to 166 MBS
And me! Dear Paul, Thank you for your email. We believe the rest of the shareholders have suffered the same losses. The company is in the process of board restructuring and will provide an operational update in the due course. Best Regards, Investor Relation
Simon, Tbh, I'd rather they issue an RNS and informs all shareholders in one / publish their revised strategic plan on their website, if we pile on the pressure via emails hopefully we can force their hand to reveal the plans for CRND going forward. The $300k loan is a short term sticking plaster to buy them some time only, I'm interested to know how they can pay this back without defaulting Mr Wang owning the majority of CRND assets.
Simon as requested: Hi, As a long term investor in Central Rand Gold Plc, having invested a total of �25,700 in the company which is currently worth �0, when can existing shareholders expect to be updated on what the revised strategic plan is going forward? While it's commendable that Mr Wang is continuing to support the company with a further loan of $300,000, given how many loans & cash CRND has burnt through to date, how exactly does CRND intend to pay back this loan to Mr Wang within 12months including interest? What then when the $300k runs out? What's happening with the Concentrator Circuit that was meant to be operational from December? With the underground water level being close to 180 MB this has previously been announced as the level at which underground mining could re-commence, it this likely to ever happen & how would it be funded? Whilst shareholders were pleasantly surprised that CRND has been thrown a lifeline, we all have lots of questions that we would like some answers too, Regards, Paul
Done Simon! I've fired a load of questions at them inc concentrator circuit, how can they re-pay Mr Wnags $300k within 12 months, under ground mining & asked when we expect to hear the revised strategic plan etc
The amount of shares you own should still be visible in your account and only be showing due to being de-listed / non tradable. Your holding should not be removed from your account until such time that the company is wound up & can officially be declared as a tax loss at which time your broker will advise in writing.
Very Interesting!!! A glimmer of hope..... Mr Wang is prepared to continue to support CRND, interesting that the total additional loan amount is only $300k, have things improved slightly financially? However, I noticed this extra loan is secured against 51% of CRND NV. The rising POG certainly can't do any harm! Lets hope the Chinese & a new Board can turn this around!
Gibbo, there are a couple of slight glimmers of hope, the water level appears to be stable & has even fell marginally even during wet season, the company is still trading & therefore must have some value to cover debt, the concentrator circuit should have been up & running for 6 weeks and POG is quite a bit higher, which all helps the situation with whatever plan is being hatched in the background as per your emails with the Chairman. I could really do with a pleasant surprise from this one, as have also now been wiped out on Carillion shareholding and my main source of work being part of their supply chain.......
Hi all! Happy New Year!!! Let's hope CRND can come back from the dead..... The Water Level hasn't been updated since 10th Dec, it will be interesting to see how well it's holding up this year, we should now be half way through rainy season. Dec & Jan are typically the worst months.
Hi Simon, Thanks for sharing! Sounds like there could be a smaller glimmer of hope. Anything is better the previous proposals tabled.... Happy New Year All! Lets hope 2018 is a better year for us long suffering CRND shareholders,