Room101's Ratings

SELL CRND by Room101 on 25 Sep 2013 08:57

Price at rating: 26.30, now:

I see someone has trouble with understanding the meaning of a hand over, on April 18th the site will be handed over to T.C.T.A. No pumping of AMD will take place until all plant and treatment facilities are completed, you cannot pump AMD without this facility up and running. 7 Months to go before then!! Trouble is that underground ore is running low, as in the RNS of 2nd August reported by the company. Gold production is poor and losing money, gold retrieved by this company at a staggering $2000+ per oz. So liquidity is the problem here, 6.9 mil raised after fee's, 4.5 mil lost first 6 month's of this year with more to come, 5 mil to be raised, another dilution to shareholders, so in my opinion it's a sell, you do what ever is right for you, GLr Group Five Civil Engineering was appointed the full R319 million treatment plant construction contract, including civils, earthworks, building, and mechanical and electrical installation. It will be three times larger than the next biggest similar treatment plant in South Africa (at eMalahleni), with highly complex concrete structures, piping and electrical systems.r Holden says the plant is designed to treat 57 Mℓ/d. “At this stage the final ‘treated’ effluent will still have a high sulphate content (approximately 200 mg/ℓ). This is no different to what was discharged by the mines up until to 2008 when pumping and treatment at this site ceased. The stream bed is already heavily polluted from old tailings and urban stormwater run-off. Although this is not ideal, it is still a lot better than doing nothing until a long-term solution has been completed.”r The biggest impact caused as a result of the project is the increase to the salinity of the water in the Middle Vaal system, which necessitates the release of fresh water from the Vaal Dam to dilute it. “This will result in a deficit in the Upper Vaal system in 2015. What this means is that if there is a drought, water restrictions will need to be imposed.”r Wayne Poulsen, senior site agent for Group Five, explains the basic treatment process: “An extraction pump station, including two huge dewatering pumps, will pump AMD from the existing ERPM shaft. The water will be pumped to two reactors, which combined have an 80 x 80 m concrete footprint and are 5 m deep. This water is then pumped to a lime dosing plant, including silos and eight mixing tanks, each of which are 16 m in diameter and 4 m high. Two thickeners, each 47 m in diameter, will settle out the solids. The treated water will be discharged via pipelines to the nearby Elsburg Spruit and the sludge discharged via pipeline to an existing ERPM tailings facility.” Group Five is further responsible for the construction and delivery of all ancillary tanks and buildings as well as a full-scale laboratory.r Ekurhuleni Metropolitan Municipality will supply the necessary clean water to site and power will be provided via a high-power 4 km overhead line.r “Our construction timeframe is less than a year, meaning not a day can be wasted. Trial commissioning will start in November 2013 , with trial operations running until 18 April 2014,” Howard Wakefield, senior contracts director for Group Five Civil Engineering points out. “We will hand the plant over to TCTA at complete readiness after which it must run permanently, 24/7. Our most critical challenge throughout the project remains time; we have to meet our critical deadlines. But we are confident of success; we started well and are making excellent progress.”r [link]

Score: 87.50

SELL CRND by Room101 on 24 Sep 2013 11:04

Price at rating: 24.66, now:

So where is this company so far to date, lost over £100,000,000 +++. Have consolidated shares 50:1 to hide their failures here, raised 6.9 mil and handed over the majority of the company to Redstone, so far this year lost 4.5 mil in 6 months. Gold trading at $1320.00 a oz roughly, gold retreived by CRND at a cost of over $2000 a oz, so this is unsustainable!r Crnd know this and are to raise another 5 mil, another dilution to share holders.r r Underground ore now running tight which is noted in the RNS of 2nd Aug 2013 this reads as follows- r In the event that Shareholders do not approve the Investment, the Company will need to delay the upgrade of it's metallurgical plant and the commencement of underground development until such time as alternative financing can be obtained. Gold production will remain low and existing cash resources will continue to be strained due to the existing challenges with the metallurgical plant. The current mining plan requires the Company to commence underground development by 2014; to ensure that it does not run out of available underground ore. Any delay, could impact on the Company's future production output. The Company will therefore remain very vulnerable, whilst it seeks alternative financing.r r AMD facility to be handed over in April 2014, then the business of de-watering starts 24/7. This will take a long time, do they have this time with ore running very tight?r r The works on the AMD is noted here- [link] r If anyone can update this with better news I will gladly add to the research. GL

Score: 37.50

SELL CRND by Room101 on 23 Sep 2013 15:28

Price at rating: 22.60, now:

For info on the date pumps and AMD begin being operational, hand over date April 2014, not the end of this year, read the full Link to know where you stand-[link]

Score: 6.25

SELL CRND by Room101 on 22 Sep 2013 17:28

Price at rating: 24.50, now:

I see the share was pumped and now dumping, note people still not sure when pumps are to be installed and fully working, some links on the AMD. On the engineering news link, scroll down and back up to get the story, MW's it will use 24/7 at great cost, plus the sludge treatment plant and chemicals. For you info-[link] r [link] r [link] Previous info on past and present of the company-[link] r [link] r [link] r [link] r [link] r [link] r [link] r [link] r [link] Hope it helps, GL

Score: 72.50

SELL CRND by Room101 on 21 Sep 2013 10:32

Price at rating: 24.50, now:

I see the pump and dump crew have done their damage here, I believe it will start to retrace lower over the next week as people look at what they have invested in. It naturally will not drop back to the 7p as people bought to high and are locked in unless they are prepared to take a loss, the rise was on very weak news, Redstone invests $7.25 mil less fee's down to $6.9 mil, CRND have lost $4.5 mil in the first 6 months here, hoping to raise another 5 mil. Free info if you want it on this company, past and present, may help in your decision to buy, hold or sell. GL-[link] r [link] r [link] r [link] r [link] r [link] r [link] r [link]

Score: 72.50

SELL CRND by Room101 on 20 Sep 2013 10:37

Price at rating: 26.20, now:

Be careful, you are buying into a mining company that hasn't and will never make a profit, IMHO of course. Do research as it's all there for you, remember they raised $6.9 mil after fee's, they have lost $4.5 mil for the 1st 6 months. Another dilution to come when they go for the next 5 mil, still costs over $2000 oz to produce. Topslice but don't get locked in, GL

Score: 100.00

SELL CRND by Room101 on 19 Sep 2013 15:03

Price at rating: 29.75, now:

I hope lots made good money from this yesterday and today, I do recommend sell as it has to retrace. As 1 person so far has pointed out it costs over $2000 a oz for this lot to get gold out, the $7.25mil invest is nothing great, they lost $4.5 mil this first half year. If and when the crusher arrives the circuit upgrade isn't due until early 2014, their problem is working in a mine of very low grades and in mines worked for over 1 hundred years, on top of this AMD which will take years etc. So if your in profit I highly recommend you take it, good luck

Score: 87.50

SELL CRND by Room101 on 18 Sep 2013 09:04

Price at rating: 8.00, now:

Get your money out while the sp has risen a fraction, it won't stay there long. What an update, who said these clowns don't know what they are doing? Bad to worse, plant should have been up and doing it's thing, absolute shambles

Score: 0.00