https://www.miningweekly.com

CRG awaits second funding tranche from investor

20th April 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – A second tranche of $500 000 in funding, which forms part of Central Rand Gold’s (CRG’s) $1-million loan agreement with investor Jia Bang Wang, has been delayed, the miner said on Thursday.

The company explained that certain exchange restrictions had led to the delay, but that efforts were being made to expedite the transfer process. “We continue to monitor our cash position,” the company said in a statement.

CRG also continued to work on executing the strategy of installing centrifugal concentrators at its operations in Johannesburg, with the anticipated date of commissioning in the third quarter.

The equipment has now been manufactured, with delivery to South Africa, from China, expected to occur mid-June.

Openpit mining, which started at the beginning of last month, is continuing, and materials have been delivered to the plant for crushing, prior to processing. Third-party batch toll treatment materials are also being fed to the plant.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

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







sq:0.093 0.13s - 106pq - 2rq
Subscribe Now