| Fri 13 Jan 2006, 8:16 | | Bolivar Shareholders Approve Gold Fields Offer |
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GFI
GOGOF
Gold Fields limited - Bolivar Shareholders Approve Gold Fields Offer
Gold Fields Limited
Share code: GFL
Isins: ZAE000014270
MEDIA RELEASE
Bolivar Shareholders Approve Gold Fields Offer
Johannesburg, January 12, 2006 - Gold Fields Limited (Gold Fields) (NYSE: GFI;
JSE: GFI) is pleased to announce that share- and warrant holders of Bolivar Gold
Corp. (Bolivar)(TSX:BGC) today voted overwhelmingly in favour of the plan of
arrangement through which Gold Fields proposes to acquire Bolivar.
76.7% of shares and 82.1% of warrants "present and voting" at the meeting were
voted in favour of the transaction. 96.1% of all outstanding shares and 81.0 %
of all outstanding warrants were represented at the meeting.
The next step in the plan of arrangement process is for the Supreme Court of the
Yukon Territory of Canada to consider the transaction, which hearing is
scheduled for 19 January 2006. If court approval is obtained, the transaction is
expected to close by the end of January 2006, subject to the completion or
waiver of any outstanding contractual conditions.
Commenting on the successful outcome of the meeting, John Munro, Executive Vice
President: Head of Corporate Development at Gold Fields said, "We are delighted
with the outcome of today"s vote and are confident that Gold Fields" ownership
of the Choco 10 mine, and advanced plans for exploring the highly prospective
surrounding area, will contribute positively to the development of the mining
industry in Venezuela."
Ian Cockerill, Chief Executive Officer of Gold Fields added, "Today is another
successful milestone in implementing our growth strategy. With Chico 10 as a
strong operational platform, we are well placed to grow our activities in what
we believe to be a highly prospective gold region, bringing us closer to our aim
of achieving an additional 1.5 million ounces of international production by
2009."
Gold Fields is one of the world"s largest unhedged gold producers, with annual
gold production of approximately 4.2 million ounces from mines in South Africa,
Ghana and Australia as well as a developing mine at Cerro Corona in Peru. The
Company has reserves of 64.8 million ounces and mineral resources of 174.5
million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris
and Brussels, and on the Swiss Exchange. All of Gold Fields" operations are ISO
14001 certified.
Bolivar Gold Corp. is a gold exploration, development and production company. At
its 95%-owned Choco 10 property in Venezuela, drilling has confirmed near-
surface proven and probable ore reserves of 1.3 million ounces. The 5,400 tonne
per day Choco 10 operation commenced commercial production in August 2005.
Bolivar Gold intends to exploit this reserve while continuing to pursue the
exploration potential of the Choco 10 property, as well as throughout the El
Callao district in conjunction with its joint venture partner, Gold Fields
Limited.
-ends-
Date: 13/01/2006 08:17:01 AM Produced by the JSE SENS Department
