Gold One International (ASX: GDO) has appointed two new executives to help expand the company’s operational base.
Wayne Robinson will fill the role of executive vice president – South African operations and Michael Li will take up the position of senior vice president – Asia.
Robinson, who has 25 years experience in mining, was most recently managing director for Eastern Platinum, where he was responsible for all of the company’s South African projects and operations.
He has worked for mining companies Richards Bay Minerals, Gold Fields, Driefontein Consolidated, GenGold and Impala Platinum.
Robinson will provide mining expertise, leadership and guidance to the group’s operations.
Li has more than 20 years experience in accounting as well as in commercial and investment banking.
He will be responsible for establishing a presence within the Asia region and will also assist with Gold One’s listing on the Hong Kong Stock Exchange, which is planned to take place within the next nine to 18 months.
Li has led numerous fund raising exercises in Hong Kong and the United States including initial public offerings, reverse takeovers and private placement, as well as domestic and cross-border merger and acquisition transactions for Chinese companies.
Most recently, Gold One announced plans to acquire underground deposits in South Africa with the aim of replicating the company’s success at the Modder East Operations.
Modder East was the first new mine to be built in the gold rich East Rand region of South Africa in 28 years. The operation hosts 1.34 million ounces of Reserves along with 4.08 million ounces of Resources and currently has a 10 year mine life.
Gold One and 70% owned subsidiary Goliath Gold have entered into an acquisition agreement for the Pamodzi East Rand underground deposits and selected surface assets. Consideration for the acquisition is ZAR70 million (A$8.6 million).
Under the agreement, Gold One will obtain prospecting rights that lie down dip to the Modder East mine and acquire selected surface infrastructure, while Goliath will acquire prospecting rights along with historical mining and geological data over the remaining area.
The areas included in the deal will effectively link Modder East in the north of the East Rand Basin with Goliath’s 50 kilometres of underground mapping in the south, creating a continuous brownfield exploration property.
Importantly, the acquisition will give the two companies access to explore one of the world’s largest brownfield exploration properties.
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