Just a small excerpt from The Australian dated 21 May 09 that goes a little way to possibly explaining the increase in the share price yesterday. The broker report from Hartleys is the bit to concentrate on.
"This week we have seen Gold One International show its precious metals paces. This company resulted from a reverse takeover by South Africa’s Afflease Gold of BMA Gold, a Queensland producer that had ended up in the hands of administrators. When BMA last traded in December its stock sold for 1.1c; when GDO listed this week the first day ended at 43c. A broker report out this morning from Hartleys puts a ‘buy’ on this stock, with a valuation of 52c a share, on the basis of pending production from two mines in South Africa, high margins and a strong growth profile." Source:http://www.theaustralian.news.com.au/business/story/0,28124,25516370-15023,00.html
Tamara1, hope this answers your question. Remembering however that the price of Gold and the new shares coming to the market on Monday 25 May 09 will impact on the price somewhat. Now that Modder East is fully funded and once it starts production we will concentrate on raising funding for the Ventersburg Project which is going to require significant funding due to its size. I don't foresee this as being a problem as the markets will most likely have recovered some what by then. The likelihood of a listing on the TSX will help funding also.
GDO Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
