| Mon 14 Feb 2011, 7:14 | | GDO - Gold One International Limited - Clarification of incorrect media |
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GDO
GDO
GDO - Gold One International Limited - Clarification of incorrect media
articles concerning Gold One and Aurora, published on 11 February, 2011
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" or the "company")
CLARIFICATION OF INCORRECT MEDIA ARTICLES CONCERNING GOLD ONE AND AURORA,
PUBLISHED ON 11 FEBRUARY, 2011
Gold One would like to clarify incorrect information pertaining to the
company, published in the South African Mail & Guardian newspaper on Friday,
11 February 2011. This incorrect information was subsequently also carried by
Bloomberg on the same day.
The original Mail & Guardian print article, titled `Aurora puts town at risk
of flooding`, claims that Gold One is "in negotiations with Aurora`s
management about pumping" at Aurora`s Grootvlei mine, which is adjacent to
Gold One`s Sub Nigel mine. This statement is false.
The article further states that if Aurora`s Grootvlei operation should flood,
Gold One`s Sub Nigel No. 1 Shaft "will also have to be written off". This
statement is also false.
The Mail & Guardian did at no stage contact Gold One to query any of this
information. To date, Gold One`s attempts to contact the newspaper
telephonically have been unsuccessful. Electronic correspondence has been sent
to request a correction but Gold One has, to date, not yet received a reply
from the newspaper.
Gold One draws attention to a company statement released on 27 January 2011,
where reference was made to the following with regards to pumping in the
vicinity of Gold One`s operations:
"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."
Gold One`s Modder East operation is, by design, separated from the East Rand
Basin and is also a zero discharge site. Modder East is therefore not affected
by the cessation of pumping operations at Grootvlei.
Parktown, Johannesburg
14 February 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.
Forward-Looking Statement
This release includes certain "forward-looking statements" and "forward-
looking information". All statements other than statements of historical fact
included in this release including, without limitation, statements regarding
future plans and objectives of Gold One are forward-looking statements (or
forward-looking information) that involve various risks, assumptions and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual values, results and future events could differ materially
from those anticipated in such statements. Important factors could cause
actual results to differ materially from Gold One`s expectations. Such factors
include, among others, the actual results of exploration activities, actual
results of reclamation activities, the estimation or realization of mineral
reserves and resources, the timing and amount of estimated future production,
costs of production, capital expenditures, costs and timing of the development
of Modder East and new deposits, availability of capital required to place
Gold One`s properties into production, the ability to obtain or maintain a
listing in South Africa, Australia, Europe or North America, conclusions of
economic evaluations, changes in project parameters as plans continue to be
refined, future prices of gold and other commodities, possible variations in
ore grade or recovery rates, failure of plant, equipment or processes to
operate as anticipated, accidents, labour disputes and other risks of the
mining industry, delays in obtaining governmental approvals, political risks,
permits or financing or in the completion of development or construction
activities, economic and financial market conditions, Gold One`s hedging
practices, currency fluctuations, title disputes or claims limitations on
insurance coverage. Although Gold One has attempted to identify important
factors that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated, estimated or
intended.
Any forward-looking statements in this release speak only at the time of
issue. There can be no assurance that such statements will prove to be
accurate as actual values, results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Gold One does not
undertake to update any forward-looking statements that are included herein,
or revise any changes in events, conditions or circumstances on which any such
statement is based, except in accordance with applicable securities laws and
stock exchange listing requirements.
Competent Person
References to mineral resources and ore reserves presented in this document
have been produced in accordance with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves, 2004 (JORC Code) and
the South African Code for Reporting of Exploration Results, Mineral Resources
and Mineral Reserves, 2007 (SAMREC Code). The terms `ore reserves` (JORC Code)
and `mineral reserves` (SAMREC Code) are therefore used synonymously. The
contained resource and reserve information has been produced under the
direction of Dr Richard Stewart who is a professional natural scientist
registered with the South African Council for Natural Scientific Professions
(a JORC Code Recognised Overseas Professional Organisation), membership
400051/04, and who is a fulltime employee of Gold One. Dr Stewart has
sufficient experience relevant to the style of mineralisation, type of deposit
under consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the JORC and SAMREC Codes respectively. Dr
Stewart consents to the inclusion in this document of the matters based on his
information in the form and context in which it appears.
Further information on Gold One`s resource statement is available in the pre-
listing statement of Gold One International Limited issued on 19 December 2008
and in the resource statements released by Gold One on the Stock Exchange News
Service (SENS) on 11 and 13 October 2010 concerning the company`s Megamine and
Goliath Gold Mining Limited respectively and resource statements released by
Gold One on the Stock Exchange News Service (SENS) on 7 and 15 December 2010
concerning the company`s Ventersburg and Modder East projects respectively.
Date: 14/02/2011 07:14:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
