Member Info for Winston270

It's looking that way...... The water level data is provided by TCTA & is their responsibility, however, I'm surprised with figures showing a dramatic drop / large monthly falls over the summer months that it took 9 months in to 2017 for the error to be corrected. Doesn't anyone from CRND ever go & inspect the mine / water level for themselves??

They said recently the concentrator circuit would be up & running by Decemeber (8 weeks ish) to continue as they have been during a strike with 'thin working capital'. They'll never be able to sell anything if the S.A rumoured Lola ressignation / fraud investigation / stripped of mining rights has any truth....

Interestingly... Lola Trollip's name isn't mentoned at the bottom of the today's RNS as the contacts in Central Rand Gold, where it is on all other RNS's........ Here we go again!

Gibbo, if you happen to email Simon in the near future would it be possible to request an update regarding the Puno High Court award & timescale / prospect of recovering the monies awarded be issued with the results? The Company's subsidiaries, CRGSA and CRGNV, awarded ZAR72,326,573 (approximately US$5,684,420). The Company's subsidiaries, CRGSA and CRGNV, awarded all legal costs relating to the application, which is still to be determined as the Courts still need to tax the accounts. Whilst the above wouldn't wipe away all the debt, it would certainly buy them some time / working capital whilst the BOD explored all opportunities rather than having to do a fire sale of the main asset.

Basically, as I read it. They need a $20 million cash injection to be able to continue in the current format i.e. retaining the various mining licenses inc under ground mine currently being dewatered. That size of cash injection now seems unlikely as they have no value as a group to borrow against. Therefore, they are now looking at selling the Netherlands subsidiary (Central Rand Gold (Netherlands Antilles) NV) which holds all the mining licenses i.e. their main asset, whilst the 'Central Rand Gold South Africa Proprietary Limited' the processing division i.e. which the Concentrator Circuit is due for continues under the listed Central Rand Gold.

So after months of negotiations / suspension, they are still little or no further forward as regards securing finance. No mention of the Puno High Court award and the statement issued seems to be very similar to Gibbo's recent post. 'The Company has debt commitments to Redstone Capital Limited and the Wang family, amounting to US$ 9.8 million in aggregate, which could be called at any time'

Gibbo, might be worth putting out about the 'PI collective on other forums to boost support?

Fair Play Gibbo! Keep up the good work ;-)

I'm not convinced we will.... they have confirmed they are intending to release full year results to Dec 2016, we could potentially still be 9 months behind current state of play. The Sept announcement was meant to be for the latest interims & most recent productions figures, these may still not be forthcoming. I'd also like to know what's happening as regards recovering the Puno High Court Award & what the recoverable legal costs amounted to, plus an explanation regarding the TCTA water level cock-up.

From the 20th July RNS, it was the interim report up to June 2017 that they were meant to be releasing during Sept inc production figures, we still won't have a recent update. RNS due Friday the 13th as well...... 'The operations at Central Rand Gold have achieved a steady-state in the past two months, from May 2017, with operations having stabilised. The Company shall announce in September, along with the interim report, specific details of the production figures from January to June 2017'

It seems Gibbo's email has forced them to issue an RNS confirming annual results announcement.

592k for me

At least Simon is reading your email. I'm not sure whether it would be wise for us all to start bombarding Simon / others with loads of emails,

I would be prepared to support a 'PI collective' as well.

Does anyone know if Simon reads these discussions? Will they be aware of Peterhouse Corporate Finance Limited involvement with Nyota Minerals & the outcome???

It appears they are deliberately withholding the release of financial results & production figures until the deal they are plotting is agreed. Why???

Did we really expect anything less from our BOD??? No financial figures have been release for the past 15 months...... they can't even manage to stick to their own timetable, let alone AIM's.... Really don't have any confidence in them delivering an asset sale or fundraising that will benefit us PI's!

Bergen managed it....

You have thought after Bergen, the BOD would have learnt their lesson and would touch the likes of these financing options with a barge hole! Why don't they Tap their Chinese investors up for some more funds & increase their stake in CRND or even Redstone, at least they'll hold their shares....

CRND's BOD can't even stick to their own deadlines, let alone those of AIM. IMADabbler13 posts regarding Peter House Corporate Finance Limited doesn't make good reading.....