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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	GDO
Latest Price:	0.48 (0.00%)
52-week High:	0.56
52-week Low:	0.29
Market Cap:	388.32M

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Gold One International Full Gold One International profile here

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 on track for 150,000 ounces production in 2011

Wednesday, May 05, 2010 by Proactive Investors

Gold One International Limited (ASX and JSE: GDO) has reported that all striking employees returned to work on Wednesday, 28 April 2010. The resumption of production after the five week strike has been efficient.

All 24 panels available for production are now fully manned and production has resumed. It is expected that production from pre-strike levels will be achieved by Monday, 10 May 2010. Lost production due to the strike is approximately 5,000 to 6,000 ounces.

Production for the June 2010 quarter is now estimated to be between 10,000 and 14,000 ounces. Modder East will be in a production ramp-up phase through to June 2011.

The five week strike, of which 4 weeks occurred after the March 2010 quarter, has resulted in the planned production of 15,000 ounces for the December 2010 month being pushed out into January 2011, resulting in 2010 annual production guidance reducing by 15,000 ounces to between 85,000 and 100,000 ounces of gold. Cost guidance for 2010 remains the same with average cash costs expected below US$400/oz.

Production guidance for 2011 remains unchanged at between 150,000 and 180,000 ounces of gold and average cash costs below US$300/oz.

Gold One President and Chief Executive Officer, Neal Froneman said, “I am delighted that striking employees have returned to work and the restart of operations has been accomplished safely and smoothly, signaling the intent by all employees to get on with the task at hand. We will endeavor to claw back what has been lost due to the strike.”

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