The ASX- and JSE-listed Gold One shares closed at R2/share on the JSE after the first 240 underground ounces had been delivered.

Gold One president and CEO Neal Froneman added that Gold One remained on track to meet its gold production target of 20 000 oz of gold for this year. A total of 600 oz had been produced to date.                                                          

The latest gold pour from underground ore followed the use of low-grade third-party surface material in June in the commissioning of the Modder East gold plant.

The company said that the new plant had also treated ore from Gold One’s nearby Sub Nigel mine, which resumed operations in January.

Gold One said last week that it had begun second-phase resource drilling at its Ventersburg project in South Africa’s Free State province, which had a Joint Ore Reserve Committee indicated and inferred gold resource of three-million ounces.

Having secured A$37,5-million in capital raising, Gold One said that it was funded to drill at Ventersburg, which the company regarded as its next flagship asset after Modder East.