Cen­tral Rand Gold se­cures new loan

The Star Early Edition - - BUSINESS REPORT -

CEN­TRAL Rand Gold an­nounced yes­ter­day that it had en­tered into a new loan agree­ment with one of its share­hold­ers, Jia Bang Wang, for fund­ing in the amount of $1 mil­lion (R13.6m) in a bid to re­sume its un­der­ground op­er­a­tions. Wang owns 9.48 per­cent share­hold­ing at Cen­tral Rand Gold. The strug­gling min­ing com­pany said the loan would be pro­vided in two tranches, with the first tranche of $500 000 hav­ing been re­ceived by the com­pany.

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