| Thu 27 Jan 2011, 7:40 | | GDO - Gold One International Limited - Der East Mine not affected by flooding in |
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GDO
GDO
GDO - Gold One International Limited - Der East Mine not affected by flooding in
South Africa
Gold One International 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")
MODDER EAST MINE NOT AFFECTED BY FLOODING IN SOUTH AFRICA
Gold One would like to clarify the following with regard to recent media reports
of flooding and problems associated with acid mine drainage in South Africa.
Gold One`s flagship Modder East mine has not been affected by the current
flooding in parts of South Africa. Modder East is located a significant distance
from those areas in the Gauteng Province that are currently flooded and is also
situated in an area that is not prone to flooding. It is therefore highly
unlikely that the mine will be affected by natural floods in the future.
With regard to acid mine drainage, it should be noted that Modder East - by
design - is in no way connected to the flooded historic underground mine
workings of the East Rand Basin. As a result, any changes in the underground
water levels in this area of the basin will not impact on Modder East. The mine
is also not required to pump significant volumes of water from underground,
which typically need to be treated and discharged off site. For the purposes of
the Water Act (No. 36 of 1998), Modder East is regarded as a non-discharge site.
Any water pumped from its underground workings is retained on site and recycled
or evaporated.
Gold One`s Sub Nigel Mine, which is currently used as a training facility for
Modder East, while not affected by the flooding, is connected to the historic
underground mine workings of the East Rand Basin. Should the water level in the
basin rise due to the cessation of pumping by other mining operators, the
training centre will be relocated to Modder East. The current water level at
Sub Nigel is some 106 metres below the level where training and stoping
operations are conducted and it is estimated that should all pumping cease, it
will take approximately nine months for the underground water level to reach the
operating level.
Issued by Gold One International Limited
www.gold1.co.za
Parktown, Johannesburg
27 January 2011
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
JSE Sponsor
For further information contact:
Neal Froneman Ilja Graulich
President and CEO Investor Relations
+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
Carol Smith Derek Besier
Investor Relations Farrington National Sydney
+27 11 726 1047 (office) +61 2 9332 4448 (office)
+27 82 338 2228 (mobile) +61 421 768 224 (mobile)
carol.smith@gold1.co.za derek.besier@farrington.com.au
About Gold One
Gold One is a gold producer listed on the financial markets operated by the ASX
Limited and the JSE Limited, 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 owing to
its shallow nature (300 metres to 500 metres below surface). To date Modder East
has provided direct employment opportunities for over 1 300 people. Gold One
also owns the nearby existing Sub Nigel mine, which is used primarily as a
training centre in the build-up of Modder East to full production. Gold One`s
other projects and targets include Ventersburg in the Free State Goldfields, the
Tulo concession in Mozambique and the Etendeka greenfield project in Namibia.
Gold One has an issued share capital of 807 080 905 shares.
This news release does not constitute investment advice. Neither this news
release nor the information contained in it constitutes an offer, invitation,
solicitation or recommendation in relation to the purchase or sale of securities
in any jurisdiction.
Date: 27/01/2011 07:40:51 Produced by the JSE SENS Department.
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