Gold One investors have reason to smile

Gold Investment - 3 December 2009

Investors in the JSE-listed junior gold producer, Gold One International Limited, have every reason to smile after the company announced early yesterday that they are expecting to increase the company’s gold production output to 120 000 ounces per year in 2010. 

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Gold output expected to increase at least 6 times... 

This comes as excellent news given the fact that Gold One’s gold production output will be between 16 000 and 20 000 ounces this year. This means they’re expecting to increase gold production output no less than 6 times next year!  

In addition to the above, they’re expecting an average cash cost of $330 per fine ounce in 2010. This is excellent if one considers the gold price has broken through the $1200 per fine ounce mark and is pushing up strongly.  

180 000 ounces of gold... 

It even gets better, Gold One expects to boost their gold production output to a 180 000 ounces of gold in 2011 at an average cash cost of $250 per fine ounce. 

Flagship operation steaming ahead... 

Gold One’s flagship operation, Modder East mine, is steaming ahead if one considers that the mine has already made an operating profit in its first month of commercial operation in November. This came after the successful commissioning of both the mine and metallurgical plant earlier this year. 

11 041 ounces of gold... 

Gold One has so far managed to extract 11 041 ounces of gold. 

Share price growth... 

Given the above, it’s no suprise that the share price of Gold One has jumped from round about 96c to 244c over the past year, which equates to over 150% in share price growth! This is a huge return, especially if one considers the recessionary times we’re living in.

Gold Investment welcomes the above news and wishes Gold One all the best in delivering the goods.

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