| Wed 23 Jun 2010, 7:05 | | GDO - Gold One executes a mandate and term sheet for US$65M debt facility |
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GDO
GDO
GDO - Gold One executes a mandate and term sheet for US$65M debt facility
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
OTCQX International: GLDZY
ISIN: AU000000GDO5
("Gold One" or the "company")
GOLD ONE EXECUTES A MANDATE AND TERM SHEET FOR US$65M DEBT FACILITY
Gold One International Limited (ASX and JSE: GDO) is pleased to announce that it
has executed a mandate and term sheet for a US$ 65 million debt facility with
two leading international banks, Absa Capital (a division of Absa Bank Limited)
and BNP Paribas. The signing of the term sheet follows several months of
financial, legal, and technical due diligence by Absa Capital and BNP Paribas in
relation to Gold One and its Modder East gold mine, which will serve as security
for the debt facility.
This detailed term sheet will form the basis of the final legal agreements which
are expected to be executed in the coming quarter. The US$ 65 million facility
will ensure Gold One has the capacity to refinance all its convertible bonds,
should some or all of the bondholders exercise their once-off put option in
December 2010.
The debt facility is subject to the completion of suitable loan and security
documentation, and includes conditions precedent usual for facilities of this
nature which includes amongst others the completion of a satisfactory final due
diligence and approval from the respective credit committees.
Gold One President and Chief Executive Officer Neal Froneman commented "I am
delighted that we have achieved this critical milestone of our proposed debt
restructuring. The signing of the Term Sheet not only demonstrates our ability
to raise corporate debt, but also provides independent third party validation of
the technical fundamentals of Gold One and its Modder East gold mine, which have
been scrutinised over a number of months by ABSA Capital and BNP Paribas."
Johannesburg
23 June 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
Issued by Gold One International Limited
Website: www.gold1.co.za
For further information contact:
Neal Froneman Ilja Graulich
President and CEO VP: Corporate Affairs
+27 11 726 1047 (office) +27 11 726 1047 (office)
+27 83 628 0226 (mobile) +27 83 604 0820 (mobile)
neal.froneman@gold1.co.za ilja.graulich@gold1.co.za
Derek Besier Carol Smith
Farrington National Sydney Investor Relations
+61 2 9332 4448 (office) +27 11 726 1047 (office)
+61 421 768 224 (mobile) +27 82 338 2228 (mobile)
Derek.besier@farrington.com.au carol.smith@gold1.co.za
About Gold One:
Gold One is a gold producer listed on the financial markets operated by ASX
Limited (the Australian Securities Exchange) and JSE Limited (the Johannesburg
Securities Exchange) (issuer code GDO). Its flagship operation is the newly
built shallow Modder East mine on the East Rand, some 30 kilometres from
Johannesburg. Modder East is the first new mine to be built in the region in 28
years and distinguishes itself from most of the other gold mines in South
Africa, due to its shallow nature (300 metres to 500 metres below surface),
having to date provided direct employment opportunities for over 1000 people.
Gold One also owns the nearby existing Sub Nigel mine, which is used primarily
as a training centre in the build-up of the Modder mine to full production. Its
other projects and targets include Ventersburg and Bothaville, both in the Free
State goldfields, the Tulo concession in Mozambique and the Etendeka greenfields
project in Namibia. Gold One has an issued share capital of 805,894,985 shares.
About Absa Capital
Absa Capital, (www.absacapital.com) a division of Absa Bank Limited (Absa) and
affiliated to Barclays Capital, is a leading South African investment bank with
global reach, offering clients financing, risk management and advisory solutions
in a wide range of currencies and structures across the globe.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world
within its peer group according to Standard & Poor`s and a leading European
provider of financial services on a worldwide scale. It ranks highly in its
three core activities: Retail Banking, Investment Solutions and Corporate &
Investment Banking, that includes a dedicated group specialised in providing
structured finance solutions to the metals and mining industry."
Date: 23/06/2010 07:05:02 Produced by the JSE SENS Department.
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