Gold One confirms 2011 production guidance

Gold One International Ltd has confirmed its pbiggest vertical wind mill in the wordroduction guidance of 120,000 ounces of gold coupled with earnings of $60.12 million dollars for the 2011 financial year.

The miner says it expects production to ramp up to $150,000 ounces during the 2012 financial year. Gold One’s CEO Neal Froneman says the company has the lowest cash costs out of the South African producers, positioning it to be extremely competitive by international standards. For the half year ended 30 June 2010, Gold One reported a net loss of $3.9 million.