[miningmx.com] – CENTRAL Rand Gold (CRG), a junior miner which is mining gold from some of Johannesburg’s oldest workings, is hopeful it can have a cash package of $7.25m approved this month in an effort to bolster production, said BDLive which cited company CEO, Johan du Toit.
Under the proposed deal, a Chinese private equity group called Redstone Capital will invest $7.25m in CRG in exchange for loan notes which can be converted into shares, the online publication said.
If Redstone converts its loan notes to shares, which it will be entitled to do, it will own 72% of Central Rand, said BDLive citing Du Toit.
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