| Wed 1 Jul 2009, 8:35 | | GDO - Gold One - Twin Hills Project Sold For Aud1.75 Million Cash |
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GDO
GDO
GDO - Gold One - Twin Hills Project Sold For Aud1.75 Million Cash
Gold One International Limited
(Previously BMA Gold Limited)
(Incorporated in Australia)
(ACN: 094 265 746)
(Registered in South Africa as an external company)
(Registration number 2009/000032/10)
Share code on the JSE: GDO
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "Company")
TWIN HILLS PROJECT SOLD FOR AUD1.75 MILLION CASH
Gold One is pleased to announce that it has sold its Twin Hills project in North
Queensland to North Queensland Metals Limited (ASX: NQM) and Heemskirk
Consolidated Limited (ASX: HSK) (in proportions of 60% and 40%, respectively)
for AUD1.75 million.
The asset sale is for cash, payable in four installments. Completion of the
sale is subject to certain conditions, including relevant approvals from the
Minister responsible for the administration of the Queensland Mineral Resources
Act 1989.
The sale of the Twin Hills project is in line with Gold One`s strategy of
realising value from non-core assets, as it pursues organic growth through the
development of its core gold projects, including the near production Modder East
Project and the large Ventersburg Project, and external growth in its targeted
geographies of Australia, North America and Southern Africa.
Parktown, Johannesburg
1 July 2009
ENDS -
Issued by Gold One International Limited
Website : www.gold1.co.za
For further information contact:
Neal Froneman Ilja Graulich Carol Smith
President and CEO VP: Corporate Affairs Investor Relations
+27 11 726 1047 (office) +27 11 726 1047 (office) +27 11 726 1047
(office)
+27 83 628 0226 (mobile) +27 83 604 0820 (mobile) +27 82 338 2228
(mobile)
neal.froneman@gold1.co.za ilja.graulich@gold1.co.za carol.smith@gold1.co.za
Note to editors:
Gold One International Limited is an Australian and African gold resource
company listed on the financial markets operated by ASX Limited (the Australian
Securities Exchange) and JSE Limited (the Johannesburg Securities Exchange)
(issuer code GDO). It is developing the new Modder East mine on the East Rand,
some 30 kilometres from Johannesburg, and also owns the nearby existing Sub
Nigel mine, which has recently been recommissioned. Its other assets include the
large Ventersburg project, and Bothaville, both in the Free State goldfields,
the Tulo concession in Mozambique and the Etendeka greenfields project in
Namibia.
Date: 01/07/2009 08:35:01 Produced by the JSE SENS Department.
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