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BRIEF-Central Rand Gold says actively exploring urgent financing options​
October 5, 2017 / 9:08 AM / 15 days ago

BRIEF-Central Rand Gold says actively exploring urgent financing options​

Oct 5 (Reuters) - Central Rand Gold Ltd

* ‍OVERALL FINANCIAL POSITION IS NEGATIVE AND DIRECTORS ARE NOW ACTIVELY EXPLORING URGENT FINANCING OPTIONS​

* ‍“ONGOING OVERHEAD OF CO‘S LISTING COSTS SIGNIFICANT, DISPROPORTIONATE WHEN WEIGHED AGAINST BENEFITS”

* “OPERATIONS HAVE BEEN SERIOUSLY HAMPERED AND HAVE NOT PRODUCED FINANCIAL OUTCOMES WHICH MANAGEMENT HAD HOPED FOR”

* ‍WHILST CO‘S SOUTH AFRICA PROPRIETARY LITD‘S OPERATIONS HAVE STABILISED OPERATIONALLY, FINANCIAL AND OPERATIONAL POSITIONS REMAIN FRAGILE

* DIRECTORS CONSIDER THAT A CASH INJECTION OF NOT LESS THAN US$ 20 MILLION WOULD BE REQUIRED IN ORDER TO REMAIN OPERATIONAL​

* ‍DIRECTORS CONSIDER THAT THIS (CASH INJECTION) IS VERY UNLIKELY TO BE FORTHCOMING IN NEAR FUTURE OR AT ALL​

* ACTIVELY PURSUING OPTIONS WHICH WILL REQUIRE DISPOSAL OF COMPANY‘S INTERESTS IN CENTRAL RAND GOLD (NETHERLANDS ANTILLES) Source text for Eikon: Further company coverage:

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