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GOLD ONE Output for June quarter rises 2%

July 31 2012 at 05:00am

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Gold One International said yesterday, in a statement on its June quarterly results, that cash flow from operations added 58 percent to $8.7 million (R71m). The company’s cash balance decreased from $147.6m to $75.9m mainly due to the final tranche of payments for the Rand Uranium acquisition. Overall the group produced 62 904 ounces during the June quarter – a 2 percent increase on the March quarter. Output at Modder East totalled 26 493 ounces, a 22 percent reduction compared with forecasts, primarily due to staff strikes. Quarter-on-quarter production at the Cooke operation increased by 12 percent to 26 041 ounces and output at the Randfontein operation added 42 percent to 10 370 ounces. Gold One’s shares rose 0.52 percent to R3.90 yesterday. – Staff reporter


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