| Wed 13 Jun 2012, 7:51 | | GDO - Gold One International Limited - Further Protest Action at Modder East |
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GDO
GDO
GDO - Gold One International Limited - Further Protest Action at Modder East
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")
Further Protest Action at Modder East
Gold One advises that on 12 June 2012, approximately 500 former Modder East
employees protested violently outside the operation following their
dismissal on 11 June 2012 for having participated in illegal strike action
last week, and had to be dispersed by members of the South African Police
Service ("SAPS"). The protesters blocked the mine`s entrance with burning
debris and refused to cooperate with the SAPS officers present.
The company will apply to the South Gauteng High Court on an urgent basis to
interdict the violence perpetrated by the dismissed employees.
As was announced by the company yesterday, in total approximately 1,035
employees have been dismissed for their participation in the illegal action.
Management considered the representations made against dismissal on 6 June
2012 and concluded that, in almost all cases, there were insufficient
mitigating factors against the sanction of dismissal.
The strike action, which Gold One was informed of by the Professional
Transport Allied Workers Union ("PTAWU") on 31 May 2012, was interdicted by
the Labour Court on 4 June 2012. The National Union of Mineworkers is the
recognised union at Modder East.
The market is referred to the company`s previous media releases published
since 4 June 2012.
ENDS
Johannesburg
13 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 1,416,394,761 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: 13/06/2012 07:51:01 Produced by the JSE SENS Department.
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