CHINA Gold International Resources has had a strong start to the year at Jiama Copper-Gold Polymetallic Mine in Tibet Autonomous Region and at CSH Gold Mine in Inner Mongolia, leaving the company confident of meeting 2017 production guidance.

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A gold bar poured at China Gold International’s CSH Gold Project in Inner Mongolia.

In the March quarter, China Gold’s mine operating earnings increased 155% to US$19.1 million and copper production by 39% compared with the same period in 2016.

At Jiama, copper production of 5716 tonnes, or approximately 12.6 million pounds, does not include the output of 1866 tonnes from phase II series I commissioning during the first quarter of 2017. Production in the 2016 March quarter was 4106 tonnes, or about 9.05 million pounds.

Gold production from CSH decreased 6% to 34,540 ounces from 36,703 ounces for the same period in 2016. The total production cost of gold for the three months was US$1127 per ounce, compared to US$1034 in the same period in 2016, due to higher depletion and depreciation costs, and the cash production cost was US$741 compared to US$739.

Cash production cost and total production cost of copper per pound decreased from $2.50 to $2.14 and from $2.09 to $1.79 respectively, mainly because of higher ore grades mined and processed.

The net profit/loss after income taxes increased to net profit of US$6.4 million from a net loss of US$3.5 million for the 2016 period.

Jiama copper production in 2017 is expected to be approximately 79 million pounds and CSH gold production is expected to be approximately 193,000 ounces. Consolidated gold production from both mines is expected to be 218,700 ounces.

During the remainder of 2017, the company will continue to leverage the technical and operating experience of controlling shareholder, China National Gold Group Corporation (CNG), to improve operations at its mines, increase production and minimise costs.

To fulfill its growth strategy, the company is continually working with CNG and other interested parties to identify potential international mining opportunities that can be readily and quickly brought into production.

China Gold’s CEO Bing Liu said, “With our sharp focus on delivering consistent results, we continue on target to meet our annual production guidance. We are also planning to speed up the resource development and take advantage of any good acquisition opportunities.”


中国黄金今年开端良好

中国黄金国际资源有限公司位于西藏自治区的甲玛铜金多金属矿和位于内蒙古的长山壕金矿今年有一个良好的开端,增强了公司完成2017年产量指导目标的信心。

第一季度,中国黄金矿山经营盈利增加155%1910万美元,铜产量较2016年同期相比增加了39%

甲玛铜产量5716吨,约1260万磅,不包括2017年第一季度阶段II系列I试运营期间的1866吨产量。2016年第一季度产量4106吨,约905万镑。

长山壕黄金产量较2016年同期相比产量减少6%,从36,703盎司减少至34,540盎司。这三个月的黄金总生产成本为每盎司1127美元,2016年同期为1034美元,由于消耗和折旧费用较高,现金生产成本为741美元,2016年同期为739美元。

每磅铜的现金生产成本和总生产成本分别从2.50美元2.09美元降至2.14美元和1.79美元,这主要是由于开采和处理的矿石品位提高了。

税后净利润/亏损额从2016年期间的净亏损350万美元增加至净利润640万美元。

2017年甲玛铜产量预期约为7900万磅,长山壕黄金产量预期约为193,000盎司。这两个矿山的黄金总产量预计达到218,700盎司。

2017年下半年,公司将继续利用其控股股东-中国黄金集团公司(CNG)的技术和运营经验,改善其矿山运营,增加产量并降低成本。

为了实现其增长战略,公司正在继续与CNG和其他有意各方合作,以寻找那些能够迅速投入生产的潜在的国际矿业机会。

中国黄金的首席执行官刘冰表示,“为了提供一致的结果,我们继续专注于实现年产量指导目标。我们也计划加速资源开发,并利用任何优质的并购机会。

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