Centurion Gold Holdings Purchases Additional Land at Primrose Gold Mine.JOHANNESBURG, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. -- Gold Production Is Estimated at 30kg for September; Financing for Chemwes Acquisition Is On Track Centurion Gold Holdings, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CGHI.OB), announced today that it has purchased more than 120 acres of land to use as storage for the by-products of its mining operations at Primrose primrose, common name for the genus Primula of the Primulaceae, a family of low perennial herbs with species found on all continents, most frequently in north temperate regions. Gold Mine in an all cash transaction. It has also taken an option to purchase an additional 25 acres, if required. 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 of Centurion Gold Holdings reported that the additional land was needed as a result of the high rate of production being achieved at Primrose Gold Mine. The mine has been yielding 22 kg a month. Moreover, in September he estimates that production will rise to 30kg. Additionally, Johnson reported that production was initiated this month at the nearby Sellies Mine and that plant improvements have been completed there. Currently, management is focusing on its efforts to increase the yield from the concentrate being produced. Once increased yield is achieved, which is expected to occur this month, CGHI will start shipping the concentrate to the Primrose Mine facility to be processed. Johnson said, "The additional land purchase was necessary to accommodate the increased production. We are pleased with the new high level of production we have achieved and looking forward to a further increase next month with the addition of production from the Sellies Mine." "Importantly," he added, "funding for the acquisition of Chemwes is on track and we expect to be able to announce the funding conclusion and the conclusion of the acquisition simultaneously." The world's largest producer of gold, South Africa's gold reserves represent more than 40% of global reserves. Industry analysts predict that the future of the gold industry in South Africa is dependent on consolidation of mining companies and increased productivity. Market leaders, such as AngloGold Limited (NYSE NYSE See: New York Stock Exchange : AU) and Gold Fields Gold Fields Limited is one of the world’s largest unhedged producers of gold, providing investors with maximum leverage to the gold price. The company was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. Ltd. (NYSE: GFI GFI Ground Fault Interrupter GFI Go For It GFI Government-Furnished Information GFI Growing Families International GFI Goodness of Fit Indices GFI Government Financial Institutions (Philippines) GFI Gross Farm Income ), have benefited from strategic mergers and acquisitions of mining companies owning mineral rights leases in South Africa. About Centurion Gold Holdings, Inc.: Centurion Gold Holdings, located in Johannesburg, South Africa, started three years ago to identify and acquire promising ore-bearing properties. In the past six months, it has acquired four properties: the Primrose Gold Mine; the Omaruru Gold Mine; the Sallies Mine and a chrome (jargon) chrome - (From automotive slang via wargaming) Showy features added to attract users but contributing little or nothing to the power of a system. "The 3D icons in Motif are just chrome, but they certainly are *pretty* chrome!" bearing operation. The Company is positioning itself to become a major producer in this market by acquiring mineral bearing properties and mineral rights. 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. Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public. |
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