| Tue 5 Jun 2012, 10:27 | | GDO - Gold One International Limited - Court Interdict Granted Against |
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GDO
GDO
GDO - Gold One International Limited - Court Interdict Granted Against
Unprotected Modder East Strike Action
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")
Court Interdict Granted Against Unprotected Modder East Strike Action
Gold One advises that on Monday 4 June 2012, the company obtained an
interim interdict from the South African Labour Court ruling that the
strike action at its Modder East Operations constitutes an unprotected
strike and interdicting and restraining employees from participating in the
strike action. The court further interdicted the Professional Transport
Allied Workers Union ("PTAWU") from encouraging or inciting any employees
to participate in the unprotected strike.
Modder East management commenced communicating the details of the interdict
to all Modder East employees on 4 June 2012 and is continuing to do so.
Employees have been instructed to report for duty as normal, however, the
majority of workers for both the 4 June 2012 night shift and the 5 June
2012 morning shift failed to report for duty. This continued unprotected
strike action will result in disciplinary action, which may include
dismissal. The policy of no work - no pay will continue to be enforced.
Management has ensured that contingency plans are in place to manage the
impact of the strike action and shareholders will continue to be informed
of further developments.
The market is referred to the media release titled "Work Stoppage at Modder
East Operations", released on 4 June 2012.
ENDS
Johannesburg
05 June 2012
JSE SPONSOR
Macquarie First South Capital (Pty) Limited
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
VP Investor Relations
+27 11 726 1047 (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 International Limited is a dual listed (ASX/JSE: GDO) 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 the Cooke 1, 2 and 3 Underground Operations and the Cooke surface assets
(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 1,416,315,461
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: 05/06/2012 10:27:27 Produced by the JSE SENS Department.
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