EduBourseActualitésClarification of Incorrect Media Articles Concerning Gold One and Aurora, Published on...

Clarification of Incorrect Media Articles Concerning Gold One and Aurora, Published on 11 February, 2011

JOHANNESBURG – 13 February 2011. Gold One International Limited (ASX and JSE: GDO) would like to clarify incorrect information pertaining to the company, published in the South African Mail & Guardian newspaper on Friday, 11 February 2011. This incorrect information was subsequently also carried by Bloomberg on the same day.

The original Mail & Guardian print article, titled ‘Aurora puts town at risk of flooding’, claims that Gold One is “in negotiations with Aurora’s management about pumping” at Aurora’s Grootvlei mine, which is adjacent to Gold One’s Sub Nigel mine. This statement is false.

The article further states that if Aurora’s Grootvlei operation should flood, Gold One’s Sub Nigel No. 1 Shaft “will also have to be written off”. This statement is also false.

The Mail & Guardian did at no stage contact Gold One to query any of this information. To date, Gold One’s attempts to contact the newspaper telephonically have been unsuccessful. Electronic correspondence has been sent to request a correction but Gold One has, to date, not yet received a reply from the newspaper.

Gold One draws attention to a company statement released on 27 January 2011, where reference was made to the following with regards to pumping in the vicinity of Gold One’s operations:

“Gold One’s Sub Nigel mine, which is currently used as a training facility for Modder East, while not affected by the flooding, is connected to the historic underground mine workings of the East Rand Basin. Should the water level in the basin rise due to the cessation of pumping by other mining operators, the training centre will be relocated to Modder East. The current water level at Sub Nigel is some 106 metres below the level where training and stoping operations are conducted and it is estimated that should all pumping cease, it will take approximately nine months for the underground water level to reach the operating level.”

Gold One’s Modder East operation is, by design, separated from the East Rand Basin and is also a zero discharge site. Modder East is therefore not affected by the cessation of pumping operations at Grootvlei.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.