GDO gold one international limited

acquires gold producer 163,000 ounces in 2010

  1. 1,071 Posts.
    Rand Uranium is a shallow gold mining operation with a profile that fits Gold One?s stated strategy of mining
    shallow low technical risk gold resources. Rand Uranium is an established gold producer which produced
    163,000 ounces of gold in 2010 at approximately US$ 1,222/oz (based on an exchange rate of ZAR 6.80 : US$
    1). In addition, Rand Uranium has an impressive mineral resource and reserve base as outlined below.
    Gold One President and CEO Neal Froneman comments: ?The Rand Uranium operations represent one of
    the few established, shallow, gold producing operations in South Africa. I am delighted that our offer for
    Rand Uranium has been accepted. This value accretive acquisition materially increases Gold One?s
    production profile to approximately 300,000 ounces per annum and significantly improves our operating
    flexibility.?
 
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Currently unlisted public company.

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