Wrap Text
GOLD ONE INTERNATIONAL LIMITED
("Gold One" or 'the Company')
Media Release
Clarification of False Information Cited by PTAWU
in FEDUSA Press Statement
JOHANNESBURG ' 1 October, 2012. Gold One International Limited (ASX and JSE: GDO) advises that the
Professional Transport and Allied Workers Union ('PTAWU') has falsely alleged that it has been in
negotiations with Gold One regarding the reinstatement of workers who were dismissed from the Modder
East Operation during June for participating in an unprotected strike. Gold One does not recognise PTAWU
as a representative union at Modder East and has not negotiated with PTAWU in any regard, despite
allegations to the contrary cited in a press statement from the Federation of Unions of South Africa
('FEDUSA') on 1 October 2012.
PTAWU's allegation that the workers were unfairly dismissed by Gold One constitutes a gross
misrepresentation of the legal proceedings between Gold One and PTAWU. On 4 June 2012, Gold One
launched an urgent application in the Labour Court of South Africa to interdict PTAWU and its members
from participating in the unprotected strike and to declare that the strike was indeed unprotected. The
Labour Court granted the interdict and issued an interim Court Order.
The claim by PTAWU that it was victorious in challenging the interim Court Order obtained by Gold One is a
blatant misrepresentation of events. On the return date, being 26 July 2012, PTAWU's members who
participated in the unprotected strike had already been dismissed. The dismissals occurred on 11 June 2012.
Consequently, in accordance with the definition of "strike" in terms of section 213 of the Labour Relations
Act 66 of 1995, the conduct giving rise to the urgent application had ceased on 11 June 2012 when the
workers were dismissed. As a result, the Labour Court discharged the interim Court Order.
The discharge of the interim Court Order does not affect the Labour Court's ruling on 4 June 2012 that the
industrial action was unprotected, and Gold One communicated this to FEDUSA on 10 August 2012 via
formal correspondence from Gold One's legal advisors. Due to the fact that by law the strike action led by
PTAWU at Modder East during June remains unprotected, the dismissal of workers who participated in the
unprotected action remains legal and fair.
Following the dismissal of the 1,044 workers the company had to re-staff the Modder East Operation.
Dismissed workers were given the opportunity to partake in an interview process, allowing for some to be
re-hired. This process has not been in accordance with any agreement or negotiations with PTAWU.
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
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
Page | 1
Gold One 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 kilometers 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.
During mid-2012 Gold One also completed its transaction with First Uranium Corporation and acquired 100% of the Ezulwini Mining
Company (Pty) Limited, giving the company access to gold and uranium processing plants with nameplate capacities of 200,000 and
100,000 tonnes per month respectively. Ezulwini is contiguous to the company's Cooke Underground and Randfontein Surface
operations. Access to the uranium production facility will allow for near term production of uranium from underground ore mined at
Cooke. In addition, the sharing of services between Ezulwini and the Cooke Underground Operations will facilitate a reduction in
operating costs. An integrated plan has been developed which will see Ezulwini being incorporated into the greater Cooke
Underground Operations as Cooke 4 Shaft.
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 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: 01/10/2012 05:57:00 Supplied by www.sharenet.co.za
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