Johannesburg - Shares of Central Rand Gold [JSE:CRD] plunged 25% to 6 cents a day after the junior miner said the government had cancelled its mining right, meaning it would have to halt operations immediately.
CRG said it will ask the Pretoria High Court to allow it to continue mining while the issue is under review. The company said it failed to meet certain requirements of its licence, such as a plan to spend R32.9m rand on social labour projects in its first two years.
CRG said it will ask the Pretoria High Court to allow it to continue mining while the issue is under review. The company said it failed to meet certain requirements of its licence, such as a plan to spend R32.9m rand on social labour projects in its first two years.