| Tue 5 Apr 2011, 7:13 | | GDO - Gold One International Limited - March 2011 quarterly production exceeds |
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GDO
GDO
GDO - Gold One International Limited - March 2011 quarterly production exceeds
guidance
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")
MARCH 2011 QUARTERLY PRODUCTION EXCEEDS GUIDANCE
JOHANNESBURG - 5 April 2011. Gold One International Limited is pleased to
announce that gold production for the March 2011 quarter amounts to 26,188
ounces, reflecting a 21.9% increase relative to the December quarter`s
production of 21,480 ounces.
The March quarter`s production is also in excess of the guidance of 25,000
ounces. Full year guidance remains at 120,000 ounces.
The increase in gold production is largely attributable to the continued
increase in stoping and development at Modder East.
Operational and financial details for the March quarter will be provided in
the March 2011 Quarterly Report, to be released toward the end of April.
Issued by Gold One International Limited
Website: www.gold1.co.za
Parktown, Johannesburg
31 March 2011
JSE SPONSOR
Macquarie First South Advisers (Pty) Limited
Neal Froneman President and CEO
+27 11 726 1047 (office) +27 83 628 0226 (mobile)
neal.froneman@gold1.co.za
Ilja Graulich Investor Relations
+27 11 726 1047 (office) +27 83 604 0820 (mobile)
ilja.graulich@gold1.co.za
Carol Smith Investor Relations
+27 11 726 1047 (office) +27 82 338 2228 (mobile)
carol.smith@gold1.co.za
Derek Besier Farrington National Sydney
+61 2 9332 4448 (office) +61 421 768 224 (mobile)
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 1,100 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
807,299,165 shares.
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 International Limited 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
realisation 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, permits or financing or in the completion of development or
construction activities, economic and financial market conditions; political
risks; 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.
Date: 05/04/2011 07:13:01 Produced by the JSE SENS Department.
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