| Thu 7 Jul 2011, 7:05 | | GDO - Gold One International Limited - June 2011 Quarterly Gold Production |
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GDO
GDO
GDO - Gold One International Limited - June 2011 Quarterly Gold Production
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")
June 2011 Quarterly Gold Production
Gold One is pleased to advise that 28,511 ounces of gold were produced during
the June 2011 quarter. This represents an 8.9% increase relative to the March
quarter`s production of 26,188 ounces, and also exceeds the quarter`s guidance
of 28,000 ounces.
Total production during the first half of 2011 therefore amounts to 54,699
ounces. With the continuing ramp up in production, the company`s guidance of
120,000 ounces for 2011 remains unchanged.
Operational and financial details for the June quarter will be provided in the
June 2011 Quarterly Report, which will be released towards the end of July 2011.
Gold One President and CEO Neal Froneman comments: "I am pleased that despite
the disruptions caused by the extensive public holidays over the Easter period,
the continued production ramp up at Modder East has remained in line with our
expectations and plans. With half year production exceeding our guidance by
some 1,700 ounces I remain confident of attaining our 120,000 ounce gold
production target for 2011."
ENDS
Parktown, Johannesburg
07 July 2011
MACQUARIE FIRST SOUTH ADVISERS (PTY) LIMITED
JSE Sponsor
Issued by Gold One International Limited
www.gold1.co.za
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 1,200 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
has an issued share capital of 808,986,351 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: 07/07/2011 07:05:19 Produced by the JSE SENS Department.
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