| Fri 29 Jun 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
for Fulfilment of Conditions Precedent
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 for Fulfilment of Conditions Precedent
Gold One announced on 2 April 2012 that it had signed a binding Sale of Shares
and Claims Agreement (the "Acquisition Agreement") for the acquisition of 100%
of the issued shares of, and all shareholders` claims against, First Uranium
Limited (Cyprus), which holds 100% of the issued shares of, and all
shareholders` claims against, Ezulwini Mining Company (Pty) Limited, for a total
consideration of US$ 70 million from First Uranium Corporation ("First Uranium")
(the "Proposed Transaction").
The Acquistion Agreement is subject to a number of conditions precedent, which,
include that the acquisition of all the shares of Mine Waste Solutions (Pty)
Limited by AngloGold Ashanti Limited from First Uranium (the "AGA Transaction")
be implemented in accordance with its respective terms, and are required to be
fulfilled or waived on or before 29 June 2012.
In order to provide sufficient time for the AGA Transaction to be implemented,
which is expected to occur on or before 24 July 2012, Gold One and the First
Uranium have agreed to extend the date to satisfy the conditions precedent to
the Proposed Transaction to July 31, 2012. Other than the conditions precedent
associated with the implementation of the AGA Transaction, the material
conditions precedent to the Proposed Transaction have been satisfied or waived,
including all of the regulatory approvals to the extent required.
ENDS
Johannesburg
29 June 2012
Transaction Sponsor and JSE Sponsor
Macquarie First South Capital (Pty) Limited
Issued by Gold One International Limited
www.gold1.co.za
For and on behalf of Gold One:
Corporate Advisor:
Qinisele Resources (Pty) Limited
Australian Corporate Advisor:
Hartleys Limited
South African Legal Advisor:
Edward Nathan Sonnenbergs Incorporated
Australian Legal Counsel:
Ashurst LLP
Canadian Legal Counsel:
Stikeman Elliot LLP
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: 29/06/2012 07:05:11 Produced by the JSE SENS Department.
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