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Central Rand Gold Limited (“Central Rand Gold” or “the Company”) is a company engaged in a gold mining and exploration project that aims to bring profitable and sustainable gold mining back to the City of Johannesburg.
The Group has acquired seven New Order Prospecting Rights which constitute from west to east, Western Areas A, B and E, the three Cs (one Prospecting Right for Consolidated Main Reef, Crown Mines and City Deep), Anglo Deep, Village Main and Robinson Deep and the defunct Simmer and Jack Gold Mine. The Prospecting Rights extend over an area from west to east of approximately 40 kilometres and north to south of approximately seven kilometres (the “Central Rand Project”). One Prospecting Right is currently in the process of being transferred to Central Rand Gold South Africa (“Central Rand Gold SA”) via a Section 11 application lodged with the Department of Mineral Resources (“DMR”). A Section 11 application for the Simmer and Jack Prospecting Right has been lodged but is still pending approval by the DMR.
The Company received its first New Order Mining Right from the DMR on 17 September 2008. This Mining Right, which was awarded 14 months after the initial application, enables Central Rand Gold to mine gold at its Consolidated Main Reef, Langlaagte and Crown Mines tenements. The Company’s current mining right comes up for renewal by the end of 2016. A process to extend the term of the mining right has now commenced.