https://www.engineeringnews.co.za

Central Rand Gold again warns of its ‘serious’ financial position

13th September 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – AltX- and Aim-listed Central Rand Gold (CRG) has reiterated that its financial position remains extremely serious.

“The company carries significant debt and has many creditors. The directors are actively pursuing financing opportunities for the company and are in discussions with several parties about those opportunities,” it said in a statement on Wednesday.

CRG highlighted that any such financing could see the company potentially disposing of all, or a significant part of, its operations to a third party, as operations were proving difficult to achieve under the company’s current capital structure.

The company in May also warned of its financial position.

Meanwhile, the company said its concentrator plant has arrived in South Africa after some delays and has been transported to site in containers.

The containers are expected to be off-loaded by September 14, after which construction will begin.

The concentrator plant will be fully on line by December.

The manufacturer will send four engineers to South Africa to assist with the installation and commissioning of the concentrator plant.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.054 1.185s - 140pq - 2rq
Subscribe Now