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GDO - Gold One International Limited - Gold One Exceeds 2011 Target

Release Date: 05/01/2012 07:05
Code(s): GDO
Wrap Text

GDO - Gold One International Limited - Gold One Exceeds 2011 Target Gold One International Limited Registered in Western Australia under the Corporations Act, 2001 (Cth) with registration number ACN: 094 265 746 (Registered in South Africa as an external company with registration number 2009/000032/10) ISIN: AU000000GDO5 Share Code on the ASX/JSE: GDO OTCQX International: GLDZY ("Gold One" or the "company") Gold One Exceeds 2011 Target Jintu Transaction "Claw-Back" Not Triggered Gold One is pleased to announce that gold sold for 2011 amounted to 123,179 ounces, exceeding the company`s stated target of 120,000 ounces and reflecting an increase of 85% compared to 2010. As a result of production exceeding 120,000 ounces, the Jintu Transaction "claw-back", or adjustment subscription has not been triggered. The Jintu Transaction was completed on 29 December, 2011, resulting in an 89.17% majority shareholding in Gold One held by BCX Gold Investment Holdings Limited ("BCX Gold"); a special purpose vehicle formed by a Chinese consortium. BCX Gold`s successful cash offer has resulted in a capital injection of A$ 150 million into Gold One. Gold One President and CEO Neal Froneman comments: "Our operations continue to exceed their targets and I am delighted that, once again, we have delivered. With our solid operational performance and the support of the Consortium as our new partner, we are very well positioned for further value accretive growth". ENDS Johannesburg 05 January 2012 JSE Sponsor Macquarie First South Capital (Pty) Limited Issued by Gold One International Limited www.gold1.co.za On behalf of Gold One: Neal Froneman President and CEO +27 11 726 1047 (office) +27 83 628 0226 (mobile) neal.froneman@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 gold producer listed on the financial markets operated by the ASX Limited and the JSE Limited, issuer code GDO. Its flagship operation is the newly built shallow Modder East mine on the East Rand, some 30 kilometres from Johannesburg. Modder East is the first new mine to be built in the region in 28 years and distinguishes itself from most of the other gold mines in South Africa owing to its shallow nature (300 metres to 500 metres below surface). To date Modder East has provided direct employment opportunities for over 1,800 people. Gold One`s other projects and targets include Ventersburg in the Free State Goldfields, the Tulo concession in Mozambique and the Etendeka greenfield project in Namibia. Gold One has an issued share capital of 1,415,189,093 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: 05/01/2012 07:05:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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