Statement re payment from Tanami Gold
January 20 2004 - 4:12AM
UK Regulatory
AngloGold Limited News Release
(Incorporated in the Republic of CORPORATE AFFAIRS DEPARTMENT
South Africa)
(Registration Number: 1944/017354/ 16th Floor, 11 Diagonal Street,
06) Johannesburg 2001, South Africa
ISIN Number:ZAE000043485 Tel: (+27 11) 637-6385 or Fax: (+27 11)
637-6399/6400
JSE Share Code: ANG AM/CAD/AGO391.04
NYSE Ticker: AU 20 January 2004
AngloGold receives payment from Tanami Gold in Western Tanami Project sale
AngloGold Australia Ltd is pleased to announce that it has received payment
from Tanami Gold NL as consideration for Tanami Gold's purchase of the Western
Tanami Project.
Tanami Gold has made a cash payment of A$3.75 million and issued 25 million
fully paid ordinary shares to AngloGold Australia to complete the transaction.
This follows an initial payment of A$250,000 when the companies signed a Heads
of Agreement on November 24, 2003. AngloGold Australia is now Tanami Gold's
largest shareholder with 10.25% of the company's ordinary shares.
Under the terms of the agreement, Tanami Gold will make a further payment of
A$5 million within 120 days of Friday, January 16, 2004. The company has also
agreed to the payment of a royalty to AngloGold Australia.
The Western Tanami Project, located in the Tanami Desert in Western Australia,
includes the Coyote deposit where Tanami Gold is currently undertaking a
detailed review of all technical data and an inspection of drill core with a
view to starting a drilling program in the March 2004 quarter.
Queries:
www.anglogold.com
South Africa Tel: Mobile: E-mail:
Steve Lenahan +27 11 637 6248 +27 83 308 2200 slenahan@anglogold.com
Europe & Asia
Tomasz Nadrowski +1 917 912 4641 tnadrowski@anglogold.com
Australia
Andrea Maxey +61 8 9425 4604 +61 438 001 393 amaxey@anglogold.com.au
Disclaimer
Except for the historical information contained herein, there are matters
discussed in this news release that are forward-looking statements. Such
statements are only predictions and actual events or results may differ
materially. For a discussion of important factors including, but not limited to
development of the Company's business, the economic outlook in the gold mining
industry, expectations regarding gold prices and production, and other factors,
which could cause actual results to differ materially from such forward-looking
statements, refer to the Company's annual report on the Form 20-F for the year
ended 31 December 2002 which was filed with the Securities and Exchange
Commission on 7April 2003.
Disclaimer
Except for the historical information contained herein, there are matters
discussed in this news release that are forward-looking statements. Such
statements are only predictions and actual events or results may differ
materially. For a discussion of important factors including, but not limited to
development of the Company's business, the economic outlook in the gold mining
industry, expectations regarding gold prices and production, and other factors,
which could cause actual results to differ materially from such forward-looking
statements, refer to the Company's annual report on the Form 20-F for the year
ended 31 December 2000 which was filed with the Securities and Exchange
Commission on 23 April 2001.
END