GFI's Production Guidance in Range

TANYA JAKUSCONEK, National Bank Financial (07/15/2010)
"It has already pre-released Q410 production guidance of 895 Moz. and stated that its costs are within guidance range. We are modeling total cash costs of $690/oz. We are expecting an update on Driefontein and Kloof (potential to go to six-day workweek) and also development progress at South Deep. Internationally, in Australia at St. Ives, we are expecting an update on the Athena (underground development) and also the progress at Hamlet. In South America, we are expecting an update on the oxide (7 Mt.) project at Cerro Corona. We anticipate an update at Chucapaca. . .which is currently in the prefeasibility stage and an update on their Yanfolila project in Mali where a scoping study is expected by year-end. We are expecting the company to provide production, cost and capital guidance for f2011. We are modeling equity production of 3.8 Moz. at $625/oz. cash costs with capital cost of $840M."

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