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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.

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Wednesday, June 23, 2010

Gold One International executes term sheet for US$65m debt facility

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Gold One International (ASX, JSE: GDO) has executed a mandate and term sheet for a US$65 million debt facility with two leading international banks, Absa Capital (a division of Absa Bank Limited) and BNP Paribas, achieving a critical milestone in the company's proposed debt restructuring.

The US$ 65 million facility will ensure Gold One has the capacity to refinance all its convertible bonds, should some or all of the bondholders exercise their once-off put option in December 2010.

The signing of the term sheet follows several months of financial, legal, and technical due diligence by Absa Capital and BNP Paribas in relation to Gold One and its Modder East gold mine, located near Johannesburg in South Africa, which will serve as security for the debt facility.

The company said this detailed term sheet will form the basis of the final legal agreements which are expected to be executed in the coming quarter.

Neal Froneman, President and Chief Executive Officer, said "the signing of the Term Sheet not only demonstrates our ability to raise corporate debt, but also provides independent third party validation of the technical fundamentals of Gold One and its Modder East gold mine, which have been scrutinised over a number of months by ABSA Capital and BNP Paribas.”

The debt facility is subject to the completion of suitable loan and security documentation, and includes conditions precedent usual for facilities of this nature which includes amongst others the completion of a satisfactory final due diligence and approval from the respective credit committees.

The company said on June 17 that a production rampup at the Modder East gold mine is continuing as planned, and that the build up rate required to attain this year’s gold production targets of 85,000 to 100,000 ounces is being achieved.

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