[miningmx.com] – RAND Central Gold (RCG) said discussions regarding the potential acquisition of the South African company by two Chinese companies had changed with one suitor, Huli Resources Group still considering a takeover.
Discussions with the second potential bidder, Hiria Group Company, had moved on to the possibility of a “significant initial strategic investment” in the company, said CRG in an announcement to the Johannesburg Stock Exchange.
Both Chinese companies were investigating the technical aspects of the continuing dewatering of the Central Basin, the geological feature in which CRG’s assets are sited. Gold miners operating in the basin have to constantly pump mines owing to flooding in adjacent de-commissioned mines.
“The discussions with Huili still contemplate the acquisition of Central Rand Gold … , however the progress of discussions has slowed over the past several weeks,” CRG said in its announcement.
