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GDO - Gold One International Limited - Completion of the Rand Uranium
Acquisition Senior Corporate Appointments
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")
Completion of the Rand Uranium Acquisition Senior Corporate Appointments
Gold One is pleased to announce that all conditions precedent to the
acquisition of 100% of Rand Uranium (Proprietary) Limited ("Rand Uranium")
from the Rand Uranium shareholders, Pamodzi Uranium (Proprietary) Limited,
Pamodzi Cooke (Proprietary) Limited and Armgold/Harmony Joint Investment
Company (Proprietary) Limited (collectively referred to as the "Sellers") for
a purchase price of US$ 250 million ("the Purchase Price") have been
fulfilled. The deal was accordingly declared unconditional and closed on
Friday 6 January 2012 ("the Completion Date").
US$ 137.7 million of the Purchase Price was settled by Gold One on the
Completion Date in cash. The balance US$ 112.3 million of the Purchase Price
("the Balance Payment") is to be settled in either cash, Gold One ordinary
shares, or a combination thereof within 90 days of the Completion Date.
Should Gold One issue ordinary shares for all or part of the Balance Payment,
then the number of shares to be issued will be determined by dividing the
amount of the Balance Payment by the 30 day volume weighted average price in
AUD at which Gold One`s shares traded on the ASX over the thirty business
days prior to the Balance Payment date.
Senior Appointments
Gold One is further pleased to also announce the immediate appointments of
Hartley Dikgale as Senior Vice President: General Counsel, and Grant Stuart
as Vice President: Investor Relations for the Gold One Group, both of whom
were previously members of the Rand Uranium Executive.
Hartley, who has 18 years` corporate experience and served as General Counsel
for Rand Uranium, was previously also responsible for business development
and value-add facilitation across all portfolio companies within Pamodzi
Investment Holdings (Pty) Limited, where he also functioned as an Executive
Director. Specialising in legal counsel across corporate governance,
telecommunications and broadcasting, business investment and fund management,
Hartley has sat on the boards of the Kulungile Metals Group, Pamodzi
Investment Holdings, Pamodzi Industrials and the Pamodzi Resources Fund.
Hartley currently serves as a non-executive board member of the Cross Border
Road Transport Agency Board and holds a Master of Laws degree from Vista
University, as well as a Higher Diploma in Company Law from the University of
the Witwatersrand.
Grant, who previously held the position of Corporate Development Officer for
Rand Uranium, previously functioned as Senior Project Developer for Harmony
Gold Mining Co Limited. Prior to Harmony Gold, Grant consulted both locally
and globally with BHP Billiton PLC, Rossing Uranium Limited, De Beers
Consolidated Mines Limited, Sasol Mining (Pty) Limited and others, while
working as Senior Manager within the Innovation Practice of Deloitte
Consulting (Pty) Limited. Grant holds a Bachelor of Science degree from the
University of the Witwatersrand as well as a post graduate diploma in
Business Administration from the Wits Business School.
The appointment of Hartley as Senior Vice President: General Counsel has
allowed for the Gold One Group`s general counsel and company secretary roles
to be separated, as Pierre Kruger, who previously acted as Senior Vice
President: General Counsel and Company Secretary, has now assumed the role of
Senior Vice President: Company Secretary only. This split ensures that the
company has the appropriate capacity and focus to facilitate further
corporate growth.
Gold One President and CEO Neal Froneman comments: "I am very pleased that we
have been able to close the Rand Uranium transaction so timeously, allowing
us to move full steam ahead with the turnaround of the Randfontein Surface
and Cooke Underground operations. Delivery has remained in-line with
expectations since Gold One assumed managerial control in September of last
year and we remain excited about the value-add that these assets create for
our portfolio. The expected value-add has already been bolstered by the
significant increase in the gold price since the signing of the Rand Uranium
sale agreement on 24 May, 2011.
"With the addition of Hartley and Grant`s extensive experience within the
local and global mining industries and their thorough knowledge of Rand
Uranium, the Gold One team`s expertise has been strengthened further."
Johannesburg
09 January 2012
JSE Sponsor
Macquarie First South Capital (Pty) Limited
For and on behalf of Gold One:
Corporate Advisor:
Qinisele Resources (Pty) Limited
JSE Sponsor:
Macquarie First South Capital (Pty) Limited
Australian Corporate Advisor:
Hartleys Limited
South African Legal Advisor:
Edward Nathan Sonnenbergs
Australian Legal Counsel:
Blake Dawson
ENDS
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
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
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
1,415,302,711 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.
Forward-Looking Statement
This release includes certain forward-looking statements and forward-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: 09/01/2012 07:05:01 Supplied by www.sharenet.co.za
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