Centurion Gold Holdings, Inc. Announces Definitive Agreement.Business Editors JOHANNESBURG, South Africa--(BUSINESS WIRE)--Dec. 9, 2003 Centurion Gold Holdings, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGHI) is pleased to announce that it has signed the definitive agreement to acquire the Chrome Mines, Spruitfontein, from Investpro Props 11 (Pty) Ltd and Marikana from Coinholders (Pty) Ltd. The closing will take place on December 31st, 2003. JCF JCF Jewish Community Federation JCF JESSI (Joint European Submicron Silicon Initiative) Common Framework JCF Joint Contingency Force JCF Jacques Chahine Finance JCF Jamaica Chess Federation JCF Jewelers Charity Fund for Children Mining, the mine contractor, has commenced operations in an open pit and the top weathered material is currently being extracted. Centurion has a royalty agreement with JCF Mining, which provides for a minimum production of 10,000 tonnes per month. Production should reach in excess of 30,000 tonnes per month over a period of time. JCF Mining has a further agreement with Xstrata Plc, the leading Ferro Chrome producer in the world, to purchase the total output of the mines. These revenues will begin accruing to Centurion as from January 1, 2004 and should contribute over $400,000 in net income for the next fiscal year. Centurion is currently in negotiations to acquire another gold mine, which has substantial reserves and is revenue producing. This mine has excess production capacity and is in close proximity to the existing Sallies Mine. This could bring the Sallies Mine to production immediately once the acquisition is finalized See finalization. . "Centurion is well placed to show good revenues for the next year and will proceed with its aggressive acquisition strategy," said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Arthur Johnson. About the Chrome Mines: The mines are situated on 55 hectares in the Rustenburg Area on the famous Merensky Fault, which is, the world's richest platinum basin. The mines have In Situ In place. When something is "in situ," it is in its original location. Chrome Ore reserves of 6.5 million tonnes. At today's prices this could bring in revenues of over $169 million to Centurion over the life of the mine. FORWARD LOOKING STATEMENTS: Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public. |
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