Gold One International (ASX: GDO, JSE: GDO) shareholders continue to support the A$0.55 per share cash takeover offer by a Chinese consortium, which now holds a 82.8% stake.
BCX Gold, acting on behalf of the consortium, was targeting a minimum stake of 60% in Gold One through a series of interdependent transactions, which includes a A$150 million funding injection which will provide a major springboard for the development of the company.
The cash offer closes at the end of today, Thursday 15 December 2011.
In recent news, Gold One continues to ramp up gold production from the company's Modder East operations in South Africa, and is poised to overtake the 2011 targets in the next few weeks.
Gold One targeted 120,000 gold ounces to be produced during 2011, with the company already pouring 113,569 ounces, with Modder East well positioned for 2012 production to be even stronger. December quarter production up until Friday 25 November was 23,742 ounces.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/23531/gold-one-international-chinese-consortium-stake-passes-82-minimum-target-exceeded-23531.html
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