| Mon 26 Mar 2012, 7:05 | | GDO - Gold One International Limited - Gold One and First Uranium Extend Date |
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GDO
GDO
GDO - Gold One International Limited - Gold One and First Uranium Extend Date
to Execute Definitive Agreements for Sale of Ezulwini Mine
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
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "company")
Gold One and First Uranium Extend Date to Execute Definitive Agreements for
Sale of Ezulwini Mine
Gold One and First Uranium Corporation ("First Uranium") have extended the
date that the parties will enter into definitive transaction agreements
regarding Gold One`s acquisition of the Ezuwlini Mine to on or before 30 March
2012.
On 2 March 2012, Gold One announced that it had entered into a binding letter
agreement with First Uranium to acquire 100% of the issued shares of, and all
shareholders` claims against, Ezulwini Mining Company (Pty) Limited ("EMC")
held by First Uranium`s wholly-owned subsidiary First Uranium Limited (Cyprus)
("FUL"), for a total consideration of US$ 70 million (ZAR 539.7 million*) (the
"Letter Agreement").
The Letter Agreement is subject to a number of conditions precedent, including
that parties enter into definitive transaction agreements on or before the
extended date of 30 March 2012.
*Based upon the exchange rate on the date the Letter Agreement from Gold One
was tabled: ZAR 7.71 : US$ 1.
Johannesburg
26 March 2012
Transaction Sponsor and JSE SPONSOR
Macquarie First South Capital (Pty) Limited
For and on behalf of Gold One:
Corporate Advisor:
Qinisele Resources (Pty) Limited
South African Legal Advisor:
Edward Nathan Sonnenbergs
Australian Legal Counsel:
Blake Dawson
Canadian Legal Counsel:
Stikeman Elliot
ENDS
Issued by Gold One International Limited
www.gold1.co.za
Neal Froneman
President and CEO
+27 11 726 1047 (office)
+27 83 628 0226 (mobile)
neal.froneman@gold1.co.za
Grant Stuart
Investor Relations
+27 10 591 5219 (office)
+27 82 602 5992 (mobile)
grant.stuart@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 dual listed mid-tier mining group with gold operations and gold
and uranium prospects across Southern Africa. Gold One remains focused on
developing and mining low technical risk, high margin precious metal resources
in diversified jurisdictions. The company`s flagship Modder East gold mine,
commissioned in 2009,distinguishes itself from most other gold mines in South
Africa owing to its shallow nature (300 to 500 metres below surface) and
continues to ramp up production, having produced 123,179 ounces in 2011.
At the beginning of 2012, the group expanded further with the acquisition of
Rand Uranium (Pty) Limited consisting of the Cooke Underground Operations and
the Randfontein Surface Operations located in the West Rand, 30 kilometres
from Johannesburg. The Cooke underground operations continue to deliver in
line with expectations and are currently the subject of a turnaround
intervention. Through Gold One`s purchase of Rand Uranium (Pty) Limited, the
group has also acquired one of the world`s most advanced uranium projects,
which envisages recovering uranium, gold and sulphur from the Cooke Tailings
Dam and underground ores.
The Gold One group is majority-owned by a consortium comprising Baiyin Non-
Ferrous Group Co. Limited, the China-Africa Development Fund, and Long March
Capital Limited and has an issued share capital of 1,415,302,711 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: 26/03/2012 07:05:04 Produced by the JSE SENS Department.
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