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

13th September 2017 By: Anine Kilian - Contributing Editor Online

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.