[miningmx.com] – VOLATILITY in the share price of Central Rand Gold last week was not related to any new developments, said BDLive citing the gold junior’s CEO Johan du Toit.
Shares in the company soared last week 60% to R3.22 from a previous close of R2, before dropping back 29% to R1.41. But volumes were thin, with fewer than 10,000 shares traded in total, said BDLive.
The group, which is mining for gold on the west of Johannesburg, is also listed in London. Trading in the City was more sedate, said BDLive.
Du Toit said the only recent development for was the open offer that was announced in December, which should be finalised by mid-January.
Central Rand Gold is holding a placement, subscription and open offer to raise up to £1.69m through the issue of 19.2 million shares at a price of 8.78p or 149c each. If the open offer is fully taken up, Redstone Capital may subscribe for an additional 32.6-million new shares to raise up to £2.86m more, said BDLive.
Click here to read the full article
