Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Gold One International upgrade extends Modder East gold mine life by five years

general_mining_gold.jpg

With a very positive outcome from a resource and reserve upgrade, the Gold One International (ASX / JSE: GDO) Modder East resources gained 18%, with reserves up 13%.

The gold upgrade has extended the mine life of Modder East, located in South Africa, by five years out to 2022.

Modder East’s total life of mine is now 13 years, and with a plant capacity of 100,000 tonnes of ore per month, production between 2012 and 2015 is forecast to exceed 150,000 gold ounces annually.

Based on the current spot gold price around US$1400, the in situ value of production for the four years from 2012 to 2015 is US$840 million.

Gold production is forecast to decrease from 2016 to between 100,000 and 120,000 ounces annually until 2020, then to 40,000 each year until 2022, as generally lower grade ore will be used.

Production for 2011 is forecast at 120,000 ounces.

The Modder East upgrade boosted Gold One’s total resource base to; 21.7 million gold ounces, with importantly 8.6 million ounces in the measured and indicated categories, with 13.1 million ounces inferred.

This total resource includes; Modder East, Ventersburg, Megamine and New Kleinfontein and Turnbridge.

 

View full GDO profile View Profile

Gold One International Timeline

Newswire
December 30 2012

Related Articles

diamond-drill-350.jpg
July 26 2017
The company has transformed itself over the last three years through three major transactions
Balmoral Resources opening up new gold zones in the Abitibi
May 03 2017
Balmoral has delivered a string of attractive exploration results from its Martiniere gold project on the prolific Abitibi gold belt
logan_=_brik_prperty.png
June 20 2017
Last year, it struck an option deal with Pilot Gold Inc, whereby it can evaluate nine exploration projects

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use