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Johannesburg - Gold One International [JSE:GDO] says its gold sold for 2011 amounted to 123 179 ounces, exceeding the company's stated target of 120 000 oz and reflecting an increase of 85% compared to 2010.
As a result of production exceeding 120 000 oz, the Jintu Transaction "claw-back" or adjustment subscription has not been triggered.
The Jintu Transaction was completed on 29 December 2011, resulting in an 89.17% majority shareholding in Gold One held by BCX Gold Investment Holdings (BCX Gold), a special purpose vehicle formed by a Chinese consortium.
BCX Gold's successful cash offer has resulted in a capital injection of A$150m into Gold One.
"Our operations continue to exceed their targets and I am delighted that, once again, we have delivered.
"With our solid operational performance and the support of the consortium as our new partner, we are very well positioned for further value accretive growth," said Gold One president and CEO Neal Froneman.
As a result of production exceeding 120 000 oz, the Jintu Transaction "claw-back" or adjustment subscription has not been triggered.
The Jintu Transaction was completed on 29 December 2011, resulting in an 89.17% majority shareholding in Gold One held by BCX Gold Investment Holdings (BCX Gold), a special purpose vehicle formed by a Chinese consortium.
BCX Gold's successful cash offer has resulted in a capital injection of A$150m into Gold One.
"Our operations continue to exceed their targets and I am delighted that, once again, we have delivered.
"With our solid operational performance and the support of the consortium as our new partner, we are very well positioned for further value accretive growth," said Gold One president and CEO Neal Froneman.
