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Update on Urgent Labour Court Interdict Obtained by Gold One against PTAWU on 4 June 2012 for Illegal Strike
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”)
Update on Urgent Labour Court Interdict Obtained by Gold One against
PTAWU on 4 June 2012 for Illegal Strike
Gold One advises that the urgent Labour Court interdict obtained by the
company on 4 June 2012 declaring the strike action called by the
Professional Transport Allied Workers Union (“PTAWU”) illegal, was
discharged on 26 July 2012, being the scheduled court return date by
reason of the fact that following the dismissal of the employees who
participated in the strike, the strike action ceased. The High Court
Order interdicting violence and intimidation by the dismissed employees
remains in place.
The discharge of the urgent interdict does not have any effect on the
illegal nature of the strike called by PTAWU during June 2012 and the
company will persist with its claim for compensation against PTAWU for
the damages it suffered as a result of the strike. The employees who
participated in the strike were dismissed after the urgent interdict was
obtained and the strike action therefore ceased after the granting of the
urgent interdict. The interim order was therefore discharged on the
return day, 26 July 2012.
The illegal strike action began during the evening shift on 3 June 2012.
The company enforced a policy of no work, no pay? and obtained a South
African Labour Court interdict on 4 June 2012 interdicting the illegal
action. The company?s standard disciplinary process was followed and the
employees were dismissed on 11 June 2012. While cases of intimidation
against current employees are still occurring, these are being responded
to accordingly with the aid of the South African Police Services.
Additional company security personnel remain stationed at Modder East.
ENDS
Johannesburg
27 July 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
1,416,315,461 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: 27/07/2012 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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