AFLEASE
SECURES ADDITIONAL FUNDING FOR MODDER EAST COMPLETION
Johannesburg,
13 January 2009� -� Aflease Gold (JSE
share code: AFO) today announced that it had raised R38 million,� at an equivalent placement price of R1.27 per
Aflease share,�
through the disposal of the first tranche of Randgold
& Exploration shares swapped with Trinity Asset Management in November 2008
to Investec.
The 3 million Randgold
& Exploration shares Aflease acquired from
Trinity in exchange for 30 million Aflease shares
have been sold at an average price of R12.72 per share, which is equivalent to
R1.27 per Aflease share.
Aflease
chief executive Neal Froneman said the company was
delighted to have secured a significant part of its remaining funding
requirement on very advantageous terms in extremely difficult market
conditions.
�The fact that this was achieved at
an equivalent share price which is substantially higher than Aflease�s current
trading price is an indication of just how undervalued the company is,� he
said.
Aflease is currently developing the
shallow, high-margin Modder East gold mine on the Witwatersrand.� The mine is scheduled to pour its first gold
later this year.� Aflease is also in the
process of merging with the Australian-based BMA Gold to create a new company
known as Gold One International, which will be listed on the Australian and Johannesburg stock
exchanges.�
For further
information call Neal Froneman, CEO Aflease Gold on +27 (0)83 628 0226
Issued by du Plessis Associates on
behalf of Aflease Gold Limited.
dPA contact Frank du Plessis Tel : +27 (0)11 728 4701, Mobile: +27 (0)82 641 0435 or e-mail:
afleasegold@dpapr.com
www.afleasegold.com
FORMAL
ANNOUNCEMENT :
Aflease Gold Limited
(Incorporated in the Republic of
South Africa)
(Registration number 1984/006179/06)
JSE Share code: AFO�� ISIN: ZAE000075867
International Prime QX (OTCQX):
AFSGY
(�Aflease�)
DISPOSAL OF RANDGOLD SHARES BY AFLEASE
Further
to the acquisition issue announcement dated 26 November 2008 whereby Aflease undertook to acquire, in a number of separate
tranches, not less than 3 million and not more than 7.5 million Randgold & Exploration Company Limited (�Randgold�) shares in a 10 for 1 share swap with Trinity
Asset Management Proprietary Limited (�Trinity�), Aflease
and Trinity have concluded the first tranche of 3 million Randgold
shares in exchange for 30 million Aflease shares. Subsequent
to the conclusion of the first tranche, Aflease has
successfully disposed of the 3 million Randgold
shares at an average price of R12.72 per Randgold
share to Investec Limited.� The effect of
the first tranche of the transaction is the raising of R38 million of
additional capital for Aflease at an average Aflease share price of R1.27.
Parktown, Johannesburg
13
January 2009
Corporate
adviser and sponsor
MACQUARIE
FIRST SOUTH ADVISERS (PTY) LIMITED
FORWARD-LOOKING STATEMENT: This news
release includes certain �forward-looking statements� and �forward-looking
information�. All statements other than statements of historical fact included
in this release including, without limitation, statements regarding future
plans and objectives of Aflease Gold and BMA Gold are
forward-looking statements (or forward-looking information) that involve
various risks and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors could
cause actual results to differ materially from Aflease
Gold and BMA Gold�s expectations. Such factors include, among others, the
actual results of exploration activities, actual results of reclamation
activities, the estimation or realisation of mineral reserves and resources,
the timing and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new deposits,
availability of capital required to place Aflease
Gold and BMA Gold�s properties into production, conclusions of economic
evaluations, changes in project parameters as plans continue to be refined,
future prices of gold and other commodities, possible variations in ore grade
or recovery rates, failure of plant, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the mining industry,
delays in obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, Aflease
Gold and BMA Gold�s hedging practices, currency fluctuations, title disputes or
claims limitations on insurance coverage, Although Aflease
Gold and BMA Gold have attempted to identify important factors that could cause
actual results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended.� There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Aflease Gold and BMA Gold do not undertake to update any
forward-looking statements that are included herein, except in accordance with
applicable securities laws.� No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.