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$0.55 cash offer for a minimum 60% stake from a Chinese consortium.
Gold One International (ASX: GDO, JSE: GDO) has announced that the company has agreed with First Uranium Corporation to extend the date for entering into definitive transaction agreements regarding Gold One’s acquisition of the Ezuwlini Mine to on or before 30 March 2012.
On 2 March 2012, Gold One announced that it had entered into a binding letter agreement with First Uranium to acquire 100% of the issued shares of, and all shareholders’ claims against, Ezulwini Mining Company held by First Uranium’s wholly-owned subsidiary First Uranium Limited.
The total consideration is US$ 70 million (ZAR 539.7 million) and the Letter Agreement is subject to a number of conditions precedent, including that parties enter into definitive transaction agreements on or before the extended date of 30 March 2012.