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GDO
GDO
GDO - Gold One International - Trading statement in respect of the six months
ended 30 June 2009
Gold One International Limited
(Previously BMA Gold Limited)
Registered in Western Australia under the Corporations Act, 2001 (Cth)
Registration number ACN: 094 265 746
Registered as an external company in the Republic of South Africa
Registration number: 2009/000032/10
Share code on the ASX/JSE: GDO
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "company" or the "group")
TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 30 JUNE 2009
In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited,
companies are required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported upon next will differ by at least 20% from
the financial results for the previous corresponding period. For the purposes of
this trading statement, the financial results for the previous corresponding
period consist of the unaudited pro forma financial information of Gold One for
the period ended 30 June 2008, set out on pages 236 to 239 of the Gold One pre-
listing statement dated 19 December 2008 ("comparable period") which may be
viewed on the website of the company hosted at www.gold1.co.za
Shareholders are advised that the group expects that the headline loss per share
will be between ZAR 0.4020 and ZAR0.4140 (2008: ZAR0.2402) and that the loss per
share will be between ZAR0.4146 and ZAR0.4266 (2008: ZAR0.2402). Approximately
ZAR0.2500 of the total headline loss per share is a non cash item related to a
fair value adjustment to the convertible note.
The reduction in earnings can be attributed to a number of factors, in
particular the following:
- The fair value non cash adjustment on the Gold One convertible bond primarily
as a result of an increasing Gold One share price which accounted for
approximately ZAR0.2500 loss per share.;
- Transaction costs related to the BMA Scheme of Arrangement of approximately
ZAR0.055 per share;
- Accelerated development of Gold One`s flagship Modder East mine which brought
the mine into production one quarter ahead of schedule. This resulted in a
reduction in interest received on cash balances of approximately ZAR 22,6
million; and
- Increased general and administrative costs incurred as Modder East positions
itself toward becoming a producing mine and costs over the period of further
business development.
The financial information on which this trading statement is based has neither
been reviewed nor reported on by the company`s auditors and the trading
statement needs to be read in context with Gold One`s results for the six months
ended 30 June 2009 which are expected to be released in due course.
Parktown, Johannesburg
7 September 2009
Sponsor
Macquarie First South Advisers (Pty) Limited
Date: 07/09/2009 16:00:03 Produced by the JSE SENS Department.
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