gold one to produce 120k oz in 2010/11

From The Age :

Gold One International Ltd has confirmed production guidance of 120,000 ounces of gold and earnings of $US59 million ($A60.12 million) in 2010/11.

Production is expected to ramp up to 150,000 ounces during financial 2012, Sydney-based Gold One said in a statement on Monday.

The company said cash costs would be about $US417 per ounce in financial 2011 and capital expenditure at Gold One's Modder East mine in South Africa is expected to be $US42 million, or $US350 per ounce.
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"Gold One already has the lowest cash costs out of South African producers," chief executive Neal Froneman said in the statement.

"This positions the company to be extremely competitive by international standards, and to deliver strong cash flows from operations over the coming years as production continues to ramp up."

? 2010 AAP