Mundoro Mining is making progress on the ongoing work to renew licences for the Maoling gold project in Liaoning Province, China, and is advancing the project towards development and production.

Mundoro has sufficient funds to continue the development of Maoling by completing the feasibility study and environmental and social impact assessment while at the same time build further shareholder value.

Mundoro entered China in 1997. In 2001 it was invited by the government to help develop the Maoling gold deposit. The company formed a Chinese joint venture company, Liaoning Tianli Mining.

The joint venture partner is Liaoning Aidi Resources, the corporate arm of the Liaoning Geology and Exploration Bureau.