Gold Fields Announces That it has Increased its Total Indirect Stake in Medoro Resources Ltd. to 13.4%
January 19 2005 - 3:39AM
PR Newswire (US)
Gold Fields Announces That it has Increased its Total Indirect
Stake in Medoro Resources Ltd. to 13.4% JOHANNESBURG, South Africa,
January 19 /PRNewswire-FirstCall/ -- Gold Fields Limited (JSE and
NYSE: "GFI") announces that its indirect wholly-owned subsidiary,
Orogen Holding (BVI) Limited, has purchased 7,692,307 common shares
of Medoro Resources Ltd. (TSXV and AIM: "MRL") in a non-brokered
private placement. The shares represent 8.1% of the issued and
outstanding common shares of Medoro. The shares have been acquired
for investment purposes. In April 2004, Orogen purchased 5,000,000
common shares of Medoro, which together with the newly purchased
shares brings Gold Fields' total indirect stake in Medoro to 13.4%.
While Orogen has no current intention to acquire additional
securities of Medoro in the immediate future, Orogen may increase
or decrease its interest in Medoro at prices which it determines to
be attractive at any time. Medoro Resources Ltd. is a junior gold
exploration and development company focussed on opportunities in
Sardinia, Italy and elsewhere in Europe through joint ventures with
strategic partners. Gold Fields Limited is one of the world's
largest unhedged producers of gold, with attributable production of
4.2 million ounces per annum, mineral reserves of 75.6 million
ounces and mineral resources of 179 million ounces. The company is
listed on the JSE Securities Exchange (primary listing), NYSE, LSE,
Euronext in Paris and Brussels, as well as on the Swiss Exchange.
DATASOURCE: Gold Fields Limited CONTACT: Gold Fields Limited:
Willie Jacobsz, Senior Vice President, Investor Relations, , Tel
+27-11-644-2460, Fax +27-11-484-0639 or Cheryl Martin, Vice
President, North, American Investor Relations, , tel
+1-303-796-8683, Orogen Holding (BVI) Limited, 9 Columbus Centre,
Pelican Drive, Road Town, Tortola, The British Virgin Islands
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