Central Rand “FOOLS” Gold. Good riddance.

pyrite

Fools Gold

Well we hate to tell you. But we did warn holders (many times) of the problems here. It’s all over at Central Rand Gold. Pack up your shovels.

Todays announcement is just another kick in the teeth in a long line of kicks that taken together has resulted in major trauma. What a kicking investors have taken here over the last few years.

Central Rand Gold, received notice from the Ministry of Mineral Resources cancelling its Mining Right. As such operations have ceased with immediate effect. The Mining Right has been cancelled as a result of the contravention of Section 47(1)(b) and Section 47(1)(d) of the Act regarding the Mining Work Programme and Social Labour Plan.

No doubt looking at the charts that traders are working the ups and downs, stay well away from this dog of a company that has traded on nothing more than Company Hyperbole.

 

Viva!

 

Dan

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  1. Dan says:

    Sounds like DES .
    You mentioned an update on mxp last week, is this still in the works or are you waiting until this weeks AGM ?
    Did you see the trader on BBC news today? Saying the stock Market is finished and the bail out plan won’t work, and goldman sachs rules the world not the government . He said people are going to lose their savings over the next 12 months – and he dreams of another recession like the 30s , he said money is still to be made with the right plan, I suspect shorting like Jesse Livermore did.
    What are your thoughts on this?
    Also Buffett buying again , just like the low point in 2008 – wonder who is correct in the end . Would you bet against the old sage? Invest when others are fearful and all that

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