CRG acquires concentrator circuit

JOHANNESBURG (miningweekly.com) – Central Rand Gold (CRG) has placed an order for a 60 000 t/m concentrator circuit to upgrade the gold grade of mine waste dumps materials before further metallurgical processing.

The circuit will comprise four centrifugal concentrators, two scrubbers, a high-speed agitator, a dewatering screen, hoppers, conveyor belts, sand/water pumps, a master control panel, high-density polyethylene pipelines, solenoid/butterfly valves, cables, steel structure and other ancillary equipment.

The circuit also includes a water recycling system to limit the use of clean water.

It is expected to be delivered and assembled in the second quarter of this year and commissioned in the third quarter.

“This is a crucial step towards enabling the company to better process the available tailings to increase the efficiency of the production process and the value of the throughput,” CRG chairperson Simon Charles.

Meanwhile, CRG on Monday also announced that it would issue 6.94-million shares to Bergen Global Opportunity Fund, after the latter chose to exercise its convertible securities in CRG at 0.7p a share.

Following admission of the relevant shares on the JSE and Aim, the company's enlarged issued share capital will comprise 227-million ordinary shares with voting rights.

The companies in June last year entered into a bridge funding facility and equity subscription, whereby Bergen invested up to $4-million zero coupon convertible securities, comprising of an initial tranche of $598 000 with the ability for up to an additional $3.5-million to be provided by mutual consent.