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Friday, 5th December 2008 (1418 views)

Central Rand Gold has poured its first gold just two months after receiving its initial new order mining right from the South African Department of Minerals and Energy.

The company announced that its current resource estimate is 22.4 million ounces in the indicated category and 13.3 million ounces in the inferred category.

Central Rand Gold stated that it hopes to upgrade portions of its near surface resource to reserve during the first quarter of 2009.

Alastair Walton, Central Rand chair, said: "Within a period of only two years, the current management team has turned an ambitious idea into a well capitalised listed company."

Central Rand Gold's current financial director, Johan du Toit, has been appointed as the company's chief executive with immediate effect.

The firm is listed in London and Johannesburg and has consolidated a number of significant exploration permits covering some 280 sq km in the Central Rand Goldfields.

 

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