| Thu 5 Jan 2012, 7:05 | | GDO - Gold One International Limited - Gold One Exceeds 2011 Target |
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GDO
GDO
GDO - Gold One International Limited - Gold One Exceeds 2011 Target
Gold One International Limited
Registered in Western Australia under the Corporations Act, 2001 (Cth) with
registration number ACN: 094 265 746
(Registered in South Africa as an external company with registration number
2009/000032/10)
ISIN: AU000000GDO5
Share Code on the ASX/JSE: GDO
OTCQX International: GLDZY
("Gold One" or the "company")
Gold One Exceeds 2011 Target
Jintu Transaction "Claw-Back" Not Triggered
Gold One is pleased to announce that gold sold for 2011 amounted to 123,179
ounces, exceeding the company`s stated target of 120,000 ounces and reflecting
an increase of 85% compared to 2010.
As a result of production exceeding 120,000 ounces, the Jintu Transaction
"claw-back", or adjustment subscription has not been triggered.
The Jintu Transaction was completed on 29 December, 2011, resulting in an
89.17% majority shareholding in Gold One held by BCX Gold Investment Holdings
Limited ("BCX Gold"); a special purpose vehicle formed by a Chinese
consortium. BCX Gold`s successful cash offer has resulted in a capital
injection of A$ 150 million into Gold One.
Gold One President and CEO Neal Froneman comments: "Our operations continue to
exceed their targets and I am delighted that, once again, we have delivered.
With our solid operational performance and the support of the Consortium as
our new partner, we are very well positioned for further value accretive
growth".
ENDS
Johannesburg
05 January 2012
JSE Sponsor
Macquarie First South Capital (Pty) Limited
Issued by Gold One International Limited
www.gold1.co.za
On behalf of Gold One:
Neal Froneman
President and CEO
+27 11 726 1047 (office)
+27 83 628 0226 (mobile)
neal.froneman@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 1,800 people. 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 1,415,189,093
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 forard-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: 05/01/2012 07:05:01 Produced by the JSE SENS Department.
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