The South African approval provides Gold One with the change of control of the mineral rights associated with Rand Uranium.
Furthermore, Gold One International has raised $150m as financing agreements with Investec Bank or from another debt or equity financing source, a pre-requisite for the acquisition of Rand Uranium.
Gold One said the raising of $150m is expected to be completed in early 2012.
The latter would be through a $150m capital injection into Gold One resulting from a consortium, through BCX Gold Investment Holdings.
With the acquisition of Rand Uranium, Gold One could log gold production from all sources of 300,000 to 350,000 ounces in 2013.
