https://www.engineeringnews.co.za

Central Rand Gold moves to raise $7.5m

7th August 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Central Rand Gold (CRG) on Wednesday announced its intention to raise $7.25-million through the issue of loan notes to Redstone Capital.

The group aimed to use the proceeds to fund required upgrades to its production facilities, to further develop underground mining and for general working capital purposes.

The conditional agreement was subject to shareholder approval.

“This agreement with Redstone Capital will fund the much needed upgrade to the company’s production facility and will enable the continued strategy of seeking opportunities to fully maximise our current mining right area, creating value for our shareholders,” CEO Johan du Toit said.

CRG also proposed the shifting of trading from the main boards of the LSE and the JSE to the Aim and the AltX respectively, which was expected to provide a market and environment more suited to the company’s current size.

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

Latest News

Showroom

Trotech
Trotech

Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

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:0.05 1.019s - 140pq - 2rq
Subscribe Now