Central Rand Gold Regulatory News (CRND)

19 May 2009 11:47



Central Rand Gold Limited

("Central Rand Gold" or "CRG")

(Incorporated as a company with limited liability under the laws of Guernsey,

Company Number 45108)

(Incorporated as an external company with limited liability under the laws of

South Africa, registration number 2007/019223/10)

ISIN: GG00B24HM601

Share code on LSE: CRND

Share code on JSE: CRD

Board and Senior Management Changes

CRG announces that Michael Sullivan, Central Rand Gold's Chief Operating Officer has today, May 19, 2009, tendered his resignation from the Board of Directors. Mike has advised that he will be unable to continue in his position of Chief Operating Officer owing to ill health. Mike will continue working full time with the Company until July 2009 and will thereafter work on a consultancy basis providing senior input into the Company's future development plans.

Riccardo Tonini, who joined Central Rand Gold from Bateman Engineered Technologies in November 2008, will fulfil the role of acting Chief Operating Officer. Riccardo has over 17 years of experience in project management and construction of materials handling and processing plants across a wide variety of minerals including gold ores. Prior to joining CRG, Riccardo had attained the position of general manager at Bateman Engineered Technologies.

Patrick Mlungwana Malaza has been appointed as Chief Financial Officer, but not as a director, of Central Rand Gold and will join CRG on July 1, 2009. Patrick is a qualified Charted Accountant (South Africa) and has had extensive work experience at Safmarine Ltd (1994-95), an international shipping and freight forwarding company, Engen Petroleum Ltd (1995-2001), a major downstream oil and petroleum products company, and most recently at Transnet Freight Rail, the South African state freight distributor (2001-09) where he attained the position of Project Director and regional Chief Financial Officer.

Commenting on the movements, Alastair Walton, CRG's chairman said;

"On behalf of the board I wish Mike Sullivan a speedy recovery from his illness. Mike has been in poor health for a considerable period and despite this has expended enormous energy to the Central Rand Gold project. In November 2008, the Company appointed Riccardo Tonini to work alongside Mike as Project Director. With Riccardo having been in place now for seven months, Mike has felt that it is now an appropriate time to step down. Mike has been instrumental in the design of the Central Rand Gold project and his work is now bearing fruit with the development of the first decline system. 

I would also like to welcome Patrick to the executive committee of Central Rand Gold South Africa, the Group's operating company. As a senior member of the financial and project management team of Transnet Freight Rail over the last 8 years, Patrick has contributed to the delivery of large-scale infrastructure projects, experience that will be invaluable to Central Rand Gold as the Company develops."

Contact: 

Jenni Newman Public Relations (Pty) Ltd + 27 (0) 11 772 1033

Jenni Newman/Megann Outram/Lerato Tlatlane