Gold One, which is the subject of a change of control...

Gold One, which is the subject of a change of control transaction, plans to produce 120000oz of gold at its Modder East mine.


Rand Uranium?s three shafts will add at least 163000oz more gold to Gold One, which has plans to shave 20% off production costs of about $1222/oz.

Gold One will inject R200m over 18 months to recapitalise the mine and re-engineer Rand Uranium?s Cooke plant to process underground ore again at a cost of about R30m after it was configured to treat dump material, said CEO Neal Froneman.

The plan is for underground ore to be diverted back to the Cooke plant instead of being toll treated at Harmony?s Doornkop plant, bringing production costs down by about 15%, he said.

The primary focus at the Rand Uranium assets is to create a viable gold mining company with uranium as a by product rather than making uranium the main focus, he said.

Using the uranium sales to offset the cost of gold production, cash costs could drop to around $400 per gold ounce, he said.


The primary focus at the Rand Uranium assets is to create a viable gold mining company with uranium as a by product rather than making uranium the main focus, he said.


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