JOHANNESBURG (miningweekly.com) – Gold explorer holding company Central Rand Gold has reconstituted the board of directors of its 74%-owned operating subsidiary, Central Rand Gold South Africa (CRGSA).

The company reported that the reconstitution was effected in order to maintain operating efficiency, continued good corporate governance and compliance with CRGSA’s shareholder agreement between Central Rand Gold NV (CRGNV), Central Rand Gold’s wholly owned subsidiary holding 74% of CRGSA, and Puno Gold Investments, Central Rand Gold’s black economic empowerment partner, which holds 26% of CRGSA.

The revised board of directors is comprised of CRGNV’s nominees John Michael McMahon who was acting as chairperson, Johan du Toit who was acting as CEO, and Wayne Epstein, as well as Puno’s nominees Mandla Mtsweni and Mahlomola Nazo.

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