Central African
Gold Plc / Ticker: CAN / Index: AIM / Sector: Mining & Exploration
20 March 2008
Central
African Gold Plc (“CAG” or “the Company”)
Production
Update at Bibiani
Central African Gold Plc,
the AIM quoted gold mining and exploration company, announces an update on
production at the Bibiani gold mine in Ghana. The Company is please to
report that it achieved a total of 24,391oz of gold sold, in line with the
previous guidance provided on 14 November 2007. In addition, CAG’s
underground development at Bibiani continues to build momentum and the Company
is confident that total production for 2008 will increase to an annualised rate
of 100,000oz per annum by the year end.
A further update of
CAG’s activities and production levels will be announced at the time of
release of the Company’s Preliminary statement.
*
* ENDS * *
For further information
please visit www.centralafricangold.com
or contact:
Central African Gold Plc
Greg Hunter/Nicole Broome Tel: +27
(0) 11 676 2500
In London:
St Brides Media &
Finance Ltd
Hugo de Salis/Felicity
Edwards Tel: +44 (0) 20 7242 4477
Strand Partners Limited
Simon Raggett/Braden
Saunders Tel: +44 (0) 20 7409 3494
RBC Capital Markets
Martin Eales/Andrew Smith Tel: +44
(0) 20 7029 7881
In South Africa:
Russell and Associates
Charmane Russell Tel: +
27 (0) 11 880 3924
Notes to
Editors:
Central African Gold Plc,
admitted to AIM in April 2004, was established to acquire gold assets with a
geographical focus on Africa. The Company has
established a sound portfolio with projects in Ghana,
Mali, Zimbabwe and Botswana. It has a highly
experienced management team, which has worked together for four years managing
six underground greenstone gold mining operations and building exploration
portfolios.
CAG’s portfolio
includes the producing Bibiani gold mine and prospecting licences in Ghana, which it acquired from AngloGold Ashanti
Limited, three joint ventures in Mali
covering 22 prospective permits and a licence in Botswana
covering the extension of the Kraaipan greenstone belt from South Africa. In addition, CAG
acquired five mines and extensive exploration properties in Zimbabwe. The management team is
evaluating additional prospects in Africa to
establish CAG as a leading mid-tier African gold producer with world class
exploration and production assets
Felicity Edwards
St Brides Media and Finance Ltd
Chaucer House
38
Bow Lane
London
EC4M 9AY
Tel:
+44 (0) 207 236 1177
Mob:
+44 (0) 7748 843871
Fax:
+44 (0) 207 236 1188
Email:
felicity@sbmf.co.uk
Web: www.sbmf.co.uk