Pressure on Gold One
In their results for the second quarter of June 2013, Gold One International Limited have said that despite the drop in gold prices, they are dealing well with the pressure on the market.
According to Gold One, high operating margins at Modder East have ensured that the operation remains strong even in a lower gold price environment.
The operational profitability is expected to improve as well, as Modder East will reach good production levels later this year, further reducing unit operating cost.
The operation is strongly focused on achieving its turnaround and the realisation of uranium co-production.
After the restructuring at the Cooke Underground Operation late last year, the operation is better positioned for improved performance.
Gold One recorded production of 68,208 ounces, reflecting a 10% increase on the March 2013 quarter and an 8% increase on the previous production record.
They also recorded a revenue of US$79.8 billion for the quarter and a group cash operating cost of US$1,071 per ounce.
