[miningmx.com] – CENTRAL Rand Gold (CRG), the Johannesburg gold miner, said it had extended the completion date for a sale agreement of the company to June 12 following consultation with four bidders for the firm.
The purpose of the realignment of the target completion date is to ensure that all MOU Parties are working on a common timetable and have the ability to complete their required due diligence,” the company said. “This will enable the company to streamline the process and ensure that company resources are not wasted.”
CRG is subject to takeover interest from four Chinese companies following due diligence discussions with Hiria Group Company, Shengbang Jiabo Consulting Company, Beijing Ankong Investment Company and Huili Resources Group during the first quarter.
“The feedback from all MOU Parties is positive at this stage,” said CRG interim chairman, Nathan Taylor.
“Significant attention has been focused on examining the company’s geological information and database, resources estimation method, and finally Central Rand Gold’s growth strategy via the CMR and Crown Competent Persons Report,’ he said.
