Gold Fields and Bolivar Gold Announces Stay of Plan of Arrangement Pending Appeal
February 22 2006 - 3:53AM
PR Newswire (US)
JOHANNESBURG and TORONTO, February 22 /PRNewswire-FirstCall/ --
Gold Fields Limited (NYSE:GFI)(JSE:GFI) and Bolivar Gold Corp.
(TSX: BGC) announced that Scion Capital has appealed the Yukon
Supreme Court ruling granting approval of the Plan of Arrangement
and was granted a stay of the order pending appeal. The appeal will
be heard on Monday, February 27, 2006. Gold Fields is one of the
world's largest unhedged gold producers, with annual gold
production of approximately 4.2 million ounces from mines in South
Africa, Ghana and Australia as well as a developing mine at Cerro
Corona in Peru. The Company has reserves of 64.8 million ounces and
mineral resources of 174.5 million ounces. Gold Fields has its
primary listing on the Johannesburg Securities Exchange and
secondary listings on the NYSE, LSE, Euronext in Paris and
Brussels, and on the Swiss Exchange. All of Gold Fields' operations
are ISO 14001 certified. Bolivar Gold Corp. is a gold exploration
and development company. At its 95%-owned Choco 10 property in
Venezuela, drilling has confirmed near-surface proven and probable
ore reserves of 1.3 million ounces. The 5,400 tonne per day Choco
10 operation commenced commercial production in August 2005.
Bolivar Gold intends to exploit this reserve while continuing to
pursue the exploration potential of the Choco 10 property, as well
as throughout the El Callao district in conjunction with its joint
venture partner, Gold Fields Limited. Additional information on
Bolivar Gold can be found by visiting the company's website at
http://www.bolivargold.com/. DATASOURCE: Gold Fields and Bolivar
Gold CONTACT: For further information: Gold Fields Limited, Willie
Jacobsz, +27-11-644-2460, , Bolivar Gold Corp. Robert Doyle,
+1-(416)-360-4653, Nerina Bodasing, +27-11-644-2630, , Cheryl A
Martin, +1-(303)-796-8683, .
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