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Name | Symbol | Market | Type |
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Hsbc Bk. 25 | LSE:50NT | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:0133Q Gold Fields Ld 25 August 2000 JOINT PRESS RELEASE GOLD FIELDS GHANA COMPLETES ACQUISITION OF TEBEREBIE ASSETS Johannesburg and Toronto, August 25, 2000: Gold Fields Limited (JSE "GFI",Nasdaq "GOLD" and Repadre Capital Corporation (TSE "RPD") are pleased to announce that Gold Fields Ghana Limited ("GFG") has completed the acquisition of the northern portion of the Teberebie concession and assets, adjacent to GFG's Tarkwa operation, from Ashanti Goldfields Limited("Ashanti"). The total consideration paid to Ashanti at closing was a net of US$4.4 million. The assets acquired include heap leach pads and associated crushing, agglomeration and stacking facilities, as well as approximately one million ounces of gold resources. The crushing system acquired will process over 300 000 tonnes of ore per month and, when combined with the existing Tarkwa circuit, is expected to increase total production to more than 11 million tonnes per annum. This will enable the operation to increase gold production in the near term to well over 400 000 ounces per year. In addition, with the increased throughput, contract mining costs are expected to decline. Integration of the Teberebie heap leach processing circuit into the Tarkwa operation will begin immediately and mining output is expected to build up to approximately one million tons of ore per month by the end of 2000. The pre-feasibility study on the Phase III expansion of the Tarkwa operation is well advanced. This study contemplates the expansion of the metallurgical complex through the construction of a screening and desliming operation as well as a mill to process deeper and less porous ore. It has the potential to further increase production at Tarkwa to close to 550 000 ounces of gold per year. Gold Fields Ghana Limited is owned 71.1% by Gold Fields Limited and 18.9% by Repadre Capital Corporation. FOR FURTHER INFORMATION CONTACT: GOLD FIELDS LIMITED Willie Jacobsz Senior Manager: Corporate Affairs and Investor Relations Tel: (011) 644-2460 Fax: (011) 484-0639 E-mail: williej@goldfields.co.za Cheryl A Martin Vice President: North American Investor Relations Tel: (303)796-8683 Fax: (303) 796-8293 Email: camartin@gfexpl.com Website: www.goldfields.co.za www.gold-fields.com REPADRE CAPITAL CORPORATION Joseph F. Conway President and Chief Executive Officer Tel: (416)-365-2430 Fax: (416)-365-8065 Paul W. LaFontaine Manager, Investor Relations Tel: 1-888-972-5511 E-mail: info@repadre.com Website: www.repadre.com Keith Irons, Bankside Consultants, London Tel :020 7220 7477 Fax: 020 7220 7211 Some of the statements contained in this release may be forward-looking statements, such as estimates and statements that describe future plans, objectives or goals. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that actual results and future events in each case could differ materially from those currently anticipated in such statements by reason of such factors as, but not limited to, changes in general economic and market conditions.
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