Wrap Text
GDO - Gold One International Limited - High Court Interdicts Protesters 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")
High Court Interdicts Protesters at Modder East
Gold One advises that, as a result of the violence perpetrated by dismissed
employees at the company`s Modder East Operation, the company obtained an
interdict from the South Gauteng High Court on 13 June 2012 interdicting
further protest.
The order has been granted against the Professional Transport Allied Workers
Union ("PTAWU"), the National Union of Mineworkers ("NUM") and the former
1,035 employees who were dismissed for participating in illegal strike action
("the respondents"). The respondents are interdicted from entering Modder
East, illegally gathering inside or outside of Modder East, and from directly
or indirectly threatening, intimidating or harming any person who is
associated with the mining operations at Modder East. The respondents are also
interdicted from preventing any person who is involved with the mining
operation from entering Modder East, and from damaging or threatening to
damage any property belonging to Modder East. In addition, the interdict
requests that the South African Police Service ("SAPS") assists in ensuring
that the respondents do not contravene any of the provisions of the interdict,
and calls upon the respondents to appear and show cause on 26 June 2012 as to
why a final order should not be granted against them.
As was stated by the company in a media release on 13 June 2012, approximately
500 former employees blocked the Modder East entrance with burning debris on
12 June 2012, and refused to cooperate with the SAPS officers present.
Representations against dismissal were made on 6 June 2012 and Management
concluded that, in almost all cases, there were insufficient mitigating
factors against the sanction of dismissal.
The Professional Transport Allied Workers Union ("PTAWU"), which is a minority
union at Modder East and is therefore not recognised by Gold One, informed the
company of the planned strike on 31 May 2012. The illegal strike 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
14 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: 14/06/2012 07:05:07 Supplied by www.sharenet.co.za
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