Gold Fields Acquires an Additional 16.2 Moz Adjacent to South Deep
July 27 2007 - 10:04AM
PR Newswire (US)
JOHANNESBURG, South Africa, July 27 /PRNewswire-FirstCall/ -- Gold
Fields Limited ("Gold Fields") (NYSE: GFI; JSE: GFI; DIFX: GFI) is
pleased to announce that agreement has been reached in terms of
which JCI Limited (JCI) and Randgold & Exploration Company
Limited (R&E) will relinquish certain rights which they have to
ground contiguous to South Deep Gold Mine (South Deep) for a
consideration of R400 million plus VAT. The agreement is subject
to, inter alia, the approval of shareholders representing at least
50% of the shares entitled to vote at general meetings of both JCI
and R&E. The JCI and R&E shareholders meetings are expected
to take place during the last week of September. Irrevocable
undertakings of support for the proposed transaction have been
received from shareholders representing 57% of JCI shares and 52%
of R&E shares entitled to vote at the respective meetings. The
transaction, if implemented, will result in Western Areas Limited
(a 100% subsidiary of Gold Fields Limited) owning 74% of a company
which holds the exploration rights to the ground in question, with
Peotona Gold, a black empowerment company, holding the balance. It
is estimated that the contiguous ground, immediately to the East of
South Deep, contains an indicated resource of approximately 16.2
million ounces of gold at a cut off grade of 5 grams per ton. This
ground could be accessed through the existing South Deep
Infrastructure. Gold Fields Limited Reg. 1968/004880/06 24 St
Andrews Road Parktown, 2193 Postnet Suite 252 Private Bag X30500
Houghton, 2041 South Africa http://www.goldfields.co.za/ Enquires
South Africa Willie Jacobsz Tel: +27-11-644-2460 Fax:
+27-11-484-0639 Nerina Bodasing Tel: +27-11-644-2630 Fax:
+27-11-484-0639 DATASOURCE: Gold Fields Limited CONTACT: Gold
Fields Limited, Reg. 1968/004880/06, 24 St Andrews Road, Parktown,
2193; Postnet Suite 252, Private Bag X30500, Houghton, 2041, South
Africa, http://www.goldfields.co.za/; Enquires: South Africa,
Willie Jacobsz, Tel: +27-11-644-2460, Fax: +27-11-484-0639, ;
Nerina Bodasing, Tel: +27-11-644-2630, Fax: +27-11-484-0639,
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