Mining Right - Update (7433T)

TIDMCRND

RNS Number : 7433T

Central Rand Gold Limited

12 December 2011

 
 
                      Central Rand Gold Limited 
  (Incorporated as a company with limited liability under the laws 
                            of Guernsey, 
                        Company Number 45108) 
  (Incorporated as an external company with limited liability under 
                      the laws of South Africa, 
                Registration number 2007/0192231/10) 
                         ISIN: GG00B24HM601 
              LSE share code: CRND JSE share code: CRD 
               ("Central Rand Gold" or the "Company") 
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     REVIEW AND setting aside of decision to cancel mining right 
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Further to the announcements of 13 October 2011 and 24 October 2011, shareholders are advised that the Minister of Mineral Resources of the Republic of South Africa ("the Minister") and her departmental co-respondents have elected not to oppose the application instituted in the High Court by Ferreira Estate and Investment Company Limited ("FEIC"), a wholly-owned subsidiary of Central Rand Gold and the registered holder of the Company's mining right under departmental reference number GP30/5/1/1/2/140MR ("Mining Right"), for final relief to review and set aside the Minister's administrative decision, made on 22 September 2011, to cancel the Mining Right ("the Decision").

The parties have accordingly agreed to have the Decision set aside by way of a consent order (the "Order") sanctioned by the High Court.

An enrolment date of 22 December 2011 has been secured for purposes of obtaining this Order, on an unopposed basis and by agreement amongst the parties.

The granting of the Order would bring a conclusion to FEIC's legal challenge to the Decision.

CRG will continue to discuss its social and labour development plans with the Department of Mineral Resources in order to agree a plan that is more appropriate for CRG's revised mining plans

Further announcements will be made as appropriate.

For further information, please contact:

Central Rand Gold [phone]

Johan du Toit / Patrick Malaza

Evolution Securities Limited [phone]

Chris Sim / Neil Elliot

Merchantec Capital [phone]

Roger Pitt / Monique Martinez

Buchanan Communications Limited [phone]

Bobby Morse / James Strong

Jenni Newman Public Relations (Proprietary) Limited [phone]

Jenni Newman

12 December 2011

Johannesburg

JSE Sponsor

Merchantec Capital

This information is provided by RNS

The company news service from the London Stock Exchange

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