Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: GDO
Latest Price: A$0.45  (0,00%)
52-week High: A$0.56
52-week Low: A$0.42
Market Cap: A$637.36M
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Gold One International
www.gold1.co.za/index.php

Gold One International (ASX: GDO, JSE: GDO) flagship operation is the Modder East mine, also owns the nearby existing Sub Nigel mine. The company's assets include a pipeline of Southern African projects comprising 21.71 million ounces.

 

Gold One is currently under a A$0.55 cash offer for a minimum 60% stake from a Chinese consortium.

Pdf

Gold One International: accepting shareholders to receive cash offer on 23 December

1st Dec 2011, 6:21 am

Gold One International (ASX: GDO, JSE: GDO) has provided an update on the A$0.55 cash offer from a Chinese consortium.

BCX Gold, which is the special purpose vehicle formed by the consortium, has confirmed that shareholders who validly accept the share takeover offer for Gold One shares by Wednesday 7 December - will be paid consideration on Friday 23 December.

The board of Gold One reaffirms its recommendation that shareholders who wish to realise, in whole or in part, their investment in Gold One for cash accept the offer in the absence of a superior proposal.


The offer reviewed

The offer comprises a series of interdependent transactions, including the cash offer and a minimum A$150 million capital injection into Gold One.
 
The Chinese consortium is seeking to become the major shareholder and long term strategic partner of Gold One targeting a minimum 60% stake, with the cash injection providing a major boost to the development of the company.


Gold One positioned to exceed 120,000 gold ounces in 2011

In news from earlier in the week, Gold One continues to ramp up gold production from the company's Modder East operations in South Africa, and is poised to overtake the 2011 targets in the next few weeks.

Gold One targeted 120,000 gold ounces to be produced during 2011, with the company already pouring 113,569 ounces, with Modder East well positioned for 2012 production to be even stronger. December quarter production up until Friday 25 November was 23,742 ounces.

Gold One also has its annual budgeting cycle for the Modder East Operations underway, allowing the company to then deliver a comprehensive production update and guidance for 2012 at the beginning of the new year.

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