press

None of the Chinese groups was represented at the announcement yesterday but Mr Froneman said the message he received during talks with the consortium was that Gold One?s strategy was "too little, too slow".

With the financial backing of the consortium, cash flow from the Modder East gold mine near Johannesburg and a $210m debt facility it had put in place, Gold One was placed to become a buyer of assets in SA and Africa, he said. "We are going to be aggressive but not desperate."

Gold One will also accelerate its existing project portfolio, including Ventersburg in the Free State. The consortium believed Modder East had further "upside potential", he said, and both sides would look at available options.

Gold One will retain its Sydney and Johannesburg listings with a view to a Hong Kong listing.

http://www.businessday.co.za/articles/Content.aspx?id=142984


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China's $500m Gold One bid opens new front

Baiyan chairman Li Peixing described the Gold One deal as part of the group's "global strategy". "Our investment strategy focuses on securing companies with high- quality resources, low cash costs and experienced operational teams that can deploy our capital effectively," he said.

http://au.news.yahoo.com/thewest/business/a/-/wa/9455777/chinas-500m-gold-one-bid-opens-new-front/


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