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Additional information
Additional Information
Market: ASX
Sector: Gold Mining
Epic: GDO
News: Latest news
Web Site: Gold One International
Other Articles: 24-06-201023-06-201017-06-2010

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Thursday September 02, 08:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Friday September 03, 01:02TD Bank posts 29% increase in Q3 profits on strong retail earnings growth

"Our third quarter results really tell the growth story of our retail businesses on both sides of the border, with our total adjusted retail earnings hitting a new high of $1.3 billion, up 21% from last year," said president and CEO Ed Clark.

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Wednesday September 01, 10:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Gold One International

Gold One International

Gold One International Limited (ASX: GDO) is a gold producer listed on ASX and JSE. Its flagship operation is the Modder East mine, also owning the nearby existing Sub Nigel mine, which is used primarily as a training centre in the build-up of Modder to full production.  Its other projects and targets include Ventersburg the Free State goldfields and  the Tulo concession in Mozambique.

Production for 2010 is targeted at between 85,000 and 100,000 ounces of gold at a cash cost of less than US$400/ounce. Reserve base of 1.36 million gold ounces and a total resources base of 13.66 million gold ounces.

CLICK HERE FOR FULL ANALYSIS OF GOLD ONE INTERNATIONAL
Thursday, May 13, 2010

Gold One International in historic first gold pour in South Africa

by Jeff Coote company news image

Gold One International (ASX, JSE: GDO) has reported that on Wednesday 12 May 2010, a doré gold bar of approximately 20 kilogram of fine gold was poured at its flagship Modder East mine in South Africa, thereby completing the production of its first tonne (32,105 ounces) of gold.

This significant achievement comes less than 10 months after Modder East poured its first ounce of gold from underground operations, and within four years of commencement of construction of the mine which is located at the East Rand, some 30 kilometres from Johannesburg.

In a statement the company said the production ramp-up is progressing well and Gold One is set to produce between 85,000 and 100,000 ounces of gold in 2010, with average cash costs expected to be below US$400/oz.

Neal Froneman, Gold One president and chief executive officer, commented “I am delighted at achieving this milestone at Modder East, which is a tremendous achievement for Gold One and its shareholders, and is testament to the commitment and hard work of the entire Gold One team."

"I look forward to continued strong gold production from Modder East as ramp-up to steady state moves ahead. I am also pleased to see the operation performing well and the positive impact it is having on the local community, of which we are a proud stakeholder."

"Our next milestone will be the refinancing of our convertible bond with a vanilla debt facility that is being arranged with a two bank consortium. This process is progressing well,” he added.
 
Modder East is the first new mine to be built in the region in 28 years and distinguishes itself from most of the other gold mines in South Africa, due to its shallow nature (300 metres to 500 metres below surface), having to date provided direct employment opportunities for over 1000 people.

Gold One also owns the nearby existing Sub Nigel mine, which is used primarily as a training centre in the build-up of the Modder mine to full production.

The company's other projects and targets include Ventersburg and Bothaville, both in the Free State goldfields, the Tulo concession in Mozambique and the Etendeka greenfields project in Namibia.

In addition to today's announcement, fund managers, Baker Steel Capital Managers LLP have increased their holding in Gold One International by 1% from 49,899,139 ordinary shares to 58,284,160 in on-market purchases on 10th May.

Currently, GDO is trading at $0.26.

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