Jinshan Receives RMB 130 Million (US$ 19 Million) Debt Facility From The Industrial And Commercial Bank Of China
Jinshan Receives RMB 130 Million (US$ 19 Million) Debt Facility From The Industrial And Commercial Bank Of China BEIJING, CHINA -- Jinshan Gold Mines Inc. (TSX: JIN) announces that its subsidiary, Ningxia Pacific Mining Co. Ltd., has received proceeds of the Renminbi ("RMB") 130 million (US$19 million) bridge loan ("Bridge Loan") announced September 8, 2008, with the Industrial and Commercial Bank of China ("ICBC"), the largest commercial bank in China. The Bridge Loan is unsecured, requires no gold hedging and is designed to support operations at the CSH Gold Mine during the installation of crushers and Phase II construction. A larger senior facility is expected to be arranged with ICBC that will retire the Bridge Loan facility. The Bridge Loan is denominated in Renminbi, and interest will be payable monthly at an annual interest rate of 6.21%. The principal amount will be repayable in installments of RMB 30 million (US$4.4 million) in January 2009, RMB 50 million (US$7.3 million) in February 2009, and RMB 50 million (US$7.3 million) in March 2009. The Bridge Loan is guaranteed by Jinshan's controlling shareholder, China National Gold Corporation and Jinshan will maintain its current position as an entirely un-hedged gold producer.
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008Oct06JinshanBridgeLoanRelease.pdf
Jinshan To Extend Warrants As Part Of Loan Transaction
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) announced that conditional upon its promissory note holders consenting to be the unsecured US$19,116,000 (Renminbi ("RMB") 130,000,000) bridge loan announced on September 8, 2008, Jinshan has agreed to extend the expiry date of warrants issued concurrent with the original issuance of those promissory notes. Accordingly, Jinshan intends to extend to December 14, 2010 the expiry date of 3,860,000 common share purchase warrants to purchase 3,860,000 common shares issued in connection with a note offering that closed in December 2006, and extend to June 26, 2011 the expiry date of 2,450,000 warrants to purchase 2,450,000 common shares in connection with a note offering that closed in June 2007. All of the warrants for which the expiry dates are being extended are held by arm's length investors.
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008SeptWarrantExtention.pdf
Jinshan to Receive US$ 19.1 Million Un-Hedged Debt Facility from the Industrial and Commercial Bank of China; New Management Appointments
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) announces that its subsidiary, Ningxia Pacific Mining Co. Ltd., has obtained approval for an unsecured US$19,116,000 (Renminbi ("RMB") 130,000,000) bridge loan ("Bridge Loan"), with the Industrial and Commercial Bank of China ("ICBC"), the largest commercial bank in China. The Bridge Loan is designed to support operations at the CSH gold mine during the installation of crushers and Phase II construction. A larger senior facility is expected to be arranged with ICBC in the fourth quarter of 2008 that will retire the Bridge Loan facility. The Bridge Loan is denominated in Renminbi, and based on the indicative terms, interest will be payable monthly at an annual interest rate of 6.57%. The principal amount will be repayable in installments of US$4,410,000 (RMB 30,000,000) in January 2009, US$7,353,000 (RMB 50,000,000) in February 2009, and US$7,353,000 (RMB 50,000,000) in March 2009. The Bridge Loan will be guaranteed by Jinshan's controlling shareholder, China National Gold Corporation (China Gold). Since the Bridge Loan does not require any gold hedging, Jinshan will maintain its current position as an entirely un-hedged gold producer. The Bridge Loan will be subject to approval by the Toronto Stock Exchange and by Jinshan's promissory noteholders.
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-09-08_NR.pdf
BHP BILLITON PRODUCTION REPORT FOR THE YEAR ENDED 30 JUNE 2008
Annual production was significantly up in 13 commodities, with records achieved in seven commodities. These records were delivered in 14 assets across six of our nine Customer Sector Groups (CSG). This was achieved in an environment in which supply disruptions and input cost pressures are placing challenges on the industry response to continued strong global demand for commodities.
We achieved record shipments in iron ore and manganese, at a time when pricing reached unprecedented levels and demand outlook remains very strong. Western Australia Iron Ore achieved an eighth consecutive annual production record, maintaining an exceptional track record of project delivery. Metallurgical coal production recovered strongly from the extreme weather interruptions during the March 2008 quarter.
Newly commissioned petroleum projects in fiscally stable regimes contributed to a record performance. Ramp up of production from these projects and future growth options will continue to increase the weighting of high margin liquids in our portfolio mix at a time of historically high oil prices.
We continue to develop and deliver world class projects that add significant shareholder value. First product was delivered from 10 major projects across five commodities during the year. A further seven major projects were sanctioned during the period. Over the past quarter we announced a significant increase in our iron ore and manganese resources and reserves. This, along with the Pampa Escondida prospect (Chile), are excellent examples of our deep inventory of expansion options. These options are underpinned by an extensive exploration and development program.
SINO GOLD HALF YEAR RESULTS FOR PERIOD ENDED 30 JUNE 2008
Record 93,874 ounces of gold and 7,323 gold equivalent ounces sold Record revenue of A$100.2 million Mine operating earnings of A$31.9 million Profit before hedging and tax of A$20.6 million Cash flow generated from operating activity of A$19.4 million Net loss after tax of A$1.6 million (including hedging charges of A$16.4 million and income tax expense of A$5.9 million). The Companys entire gold hedge book was closed out during the period The Jinfeng Gold Mine produced 66,388 ounces at an average cash operating cost of US$416/ounce BioGold produced 23,342 ounces of gold at a net tolling profit margin of approximately US$50/ounce The Groups controlled Ore Reserves and Mineral Resources increased to a total of 4.8 million ounces and 8.2 million ounces, respectively Development of the White Mountain Gold Mine is on schedule for first gold to be poured in late 2008
Feasibility and permitting of the Beyinhar Project progressed on schedule to enable a project development decision in late 2008
Sino Golds ownership of the high-grade Eastern Dragon Lode 5 gold-silver deposit was increased to 80% and work has commenced towards enabling this quality project to be fast tracked into development
Strong gold price outlook and Sino Gold is now completely unhedged
The complete Half Yearly Report and presentation can be downloaded from www.sinogold.com.au
For further information, please contact: Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations +61 2 8259 7000 info@sinogold.com.au
Conference Call on August 19, to Discuss Jinshan's 2008 Second Quarter Financial Results
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) will host a telephone conference call for investors and analysts on August 19, at 2:00 p.m. PST (5:00 p.m. EST) to discuss the 2008 second quarter financial results.
The conference call may be accessed by dialing toll-free 1-866-223-7781 in Canada and the United States, or 1-416-641-6142 in the Toronto area and internationally. The conference call will be archived for later playback and may be accessed by dialing 1-416-695-5800 or 1-800-408-3053 and entering the pass code 3268922, or via www.jinshanmines.com. The archived playback will be available until Sep 19, 2008 11:59 p.m.
Click Here to Read Complete Release:
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-08-15_NR.pdf
Second Quarter Results for the period ended June 30, 2008
Second Quarter Results for the period ended June 30, 2008
To view the financial statements, click on the attached file...
Sino Gold 2008 Half Year Results Conference Call
Sino Gold (ASX:SGX, SEHK:1862) plans to release its 2008 Half Year Financial Report early on Monday 18 August 2008. You are cordially invited to participate in a conference call hosted by Jake Klein, CEO at: 11.15am Sydney time Monday 18 August 2008 (9.15am Hong Kong time)
The conference call format will be a short presentation summarising the key points of the release followed by the opportunity to ask questions.? The presentation will also be lodged with the ASX and available for download from the Sino Gold website: www.sinogold.com.au
If you wish to listen online, the call will be available live and recorded on Boardroom Radio (www.brr.com.au) at http://www.brr.com.au/event/49370.
Dial-in numbers in Australia: Sydney Number - 02 8212 8410 Toll Free - 1800 153 721 Dial-in numbers Worldwide: New Zealand - 0800 442 709 Singapore - 800 120 4395 Hong Kong - 800 933 733 Switzerland - 0800 000 601 UK - 0800 376 8386 USA - 1866 307 0659 Canada - 1866 307 0658 South Africa - 0800 980 701 China - 400 681 5431
Participant Pin Code:762470# Instructions: Step 1: Participants dial the relevant participant access number. Step 2: At the prompt, participants will enter the pin number 762470# and record the required details. Step 3: Participants will be placed on hold until the event begins.
If the pin number is not dialed or dialed incorrectly, participants will be automatically transferred to our Customer Service team who will verify the participant and allow them to enter the Event Call. All participants will be on mute until the Q&A session after the formal presentation.
For participants requiring assistance with the teleconference call, please contact Customer Service on 1800 079 469 (Australia) or internationally +61 2 9922 7759.
Thank you.
BHP BILLITON PRODUCTION REPORT FOR THE YEAR ENDED 30 JUNE 2008
Annual production was significantly up in 13 commodities, with records achieved in seven commodities. These records were delivered in 14 assets across six of our nine Customer Sector Groups (CSG). This was achieved in an environment in which supply disruptions and input cost pressures are placing challenges on the industry response to continued strong global demand for commodities.
We achieved record shipments in iron ore and manganese, at a time when pricing reached unprecedented levels and demand outlook remains very strong. Western Australia Iron Ore achieved an eighth consecutive annual production record, maintaining an exceptional track record of project delivery. Metallurgical coal production recovered strongly from the extreme weather interruptions during the March 2008 quarter.
Newly commissioned petroleum projects in fiscally stable regimes contributed to a record performance. Ramp up of production from these projects and future growth options will continue to increase the weighting of high margin liquids in our portfolio mix at a time of historically high oil prices.
We continue to develop and deliver world class projects that add significant shareholder value. First product was delivered from 10 major projects across five commodities during the year. A further seven major projects were sanctioned during the period. Over the past quarter we announced a significant increase in our iron ore and manganese resources and reserves. This, along with the Pampa Escondida prospect (Chile), are excellent examples of our deep inventory of expansion options. These options are underpinned by an extensive exploration and development program.
Jinshan Reports Positive Metallurgical Results from its Dadiangou Gold Project, China
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) is pleased to report results from metallurgical testwork on two samples of sulphide mineralization from its Dadiangou Gold Project in Gansu province, China. Whole ore cyanidation tests returned gold recoveries generally in excess of 90% from the two samples. In addition, simple gravity separation was able to recover 28% to 51% of the gold prior to cyanidation of the gravity concentrate tails. Jinshan will now proceed with additional testing on a wider range of crush and grind sizes, and column testing, in order to more fully evaluate the processing options at Dadiangou.
"We are pleased to confirm that the sulphide portions of the Dadiangou deposit leach readily" said Jinshan's Vice President of Exploration, Keith Patterson. "Further work will be needed before a final process flow sheet can be determined but the first step of confirming that the gold can be extracted through simple cyanide leaching is now complete."
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-07-22_NR.pdf
SINO GOLD CONFERENCE CALL AT 11.00AM, TUESDAY 22 JULY 2008
Sino Gold (ASX:SGX, SEHK:1862) plans to release its June 2008 Quarterly Report early on Tuesday, 22 July 2008. You are cordially invited to participate in a conference call hosted by Jake Klein, CEO at: 11.00am Tuesday, 22 July 2008 (Sydney, Australian Eastern Standard Time)
If you wish to listen online, the call will be available live and recorded on Boardroom Radio (www.brr.com.au) at http://www.brr.com.au/event/47804. A recording of the conference call will also be available on the Sino Gold website: www.sinogold.com.au
The dial in details are as follows: Toll Free Numbers: China North - 1080 0714 0884 China South - 1080 0140 0857 Singapore - 800 120 4395 Hong Kong - 800 933 733 Switzerland - 0800 000 601 UK - 0800 376 8386 USA - 1866 307 0659 Canada - 1866 307 0658 South Africa - 0800 980 701
Participant Pin Code: 762470# OR non-toll free number: +61 2 8212 8410
Instructions: Step 1: Participants dial the Event access number. Step 2: At the prompt, participants will enter the pin number 762470# and record the required details. Step 3: Participants will be placed on hold until the Event begins.
If the pin number is not dialed or dialed incorrectly, participants will be automatically transferred to our Customer Service team who will verify the participant and allow them to enter the Event Call. All participants will arrive muted and will only be able to speak during the Q&A session (if applicable).
For participants requiring assistance with the teleconference call, please contact Customer Service on 1800 079 469 (Australia) or internationally +61 2 9922 7759
Thank you
MAXY COMPLETES ACQUISITION OF 15 GOLD, SILVER AND BASE METAL EXPLORATION PROPERTIES IN PERU
VANCOUVER, BRITISH COLUMBIA July 10, 2008 — Maxy Gold Corp. MXD.TSXV ("Maxy" or “the Company”) advises that it has closed the acquisition, announced March 17, 2008, of a 100% interest in 15 gold and base metal mineral exploration properties totaling 139,070 hectares in central and southern Peru.
Andre Gauthier, President and CEO of Maxy said, “We are extremely pleased with this acquisition of a high quality exploration property package. Our team in Peru has already mobilized to start field exploration, which is slated to include drilling on the Chocos and Condoroma properties near the end of August.”
Peru Property Portfolio All 15 Properties are located in Central and Southern Peru in well defined prospective mineralization belts. Ten properties are high sulphidation gold and silver targets, 1 a low sulphidation gold and silver target and 4 are base metal targets.
Six of the properties have had sufficient positive work on them to be near drill stage, being the Chocos (which contains the Candel target), Condoroma, Sumaq, Corina, Picha, and Canta properties. Maxy has started a full field evaluation of these properties in order to identify priority drilling targets as soon as possible. The other properties are at grass roots stage, staked on data base information targeting high sulphidation gold -silver epithermal systems, and will also be assessed in the upcoming program.
Significant results previously obtained by the operator, Minera del Suroeste S.A.C., include: -On Chocos: 179 samples where taken from 4 veins. 13 samples returned assay values from 5% to 13% zinc (Zn); 17 samples assayed from 5% to 20% lead (Pb), and 4 samples assayed from 30 grams per tone (g/t) silver (Ag) to 261 g/t Ag. -On Condoroma, a first pass sampling program returned copper values to 1.29%, gold (Au) values to 1.79 g/t and anomalous molybdenum values. -On Picha, 156 samples have been taken and returned both copper (Cu) and Ag anomalies (up to 12% Cu and 169 g/t Ag). -On Canta, 73 samples where collected one sample returned 2.23 g/t Au and up to 3,220 g/t Ag, 0.254%Cu, 3.96% Pb and up to 2.97%Zn. -On the Sami property, wide drill intersections of low grade gold mineralization have been reported by Penoles.. On the Sumaq property, 90 samples gave up to 0.898 grams per tone gold. Other reported values ranges between 0.1 up 8.98 g/t Au. -On the Corina property, 67 samples returned values ranging between 0.1 up 6.67 g/t Au. NI 43-101 reports on the Chocos and Condoroma properties are nearing completion. Maxy will start field work as soon as possible and has already secured a technical operating team. Maxy is planning to bring Chocos and Condoroma properties to drill stage at the end of August 2008.
Consideration for the properties, paid to the vendor, Southwestern Resources Corp. (“Southwestern”), is US $200,000 and the issuance of 1,000,000 shares, which will bring Southwestern’s holding to 3,909,600 shares, or 11.3% of Maxy’s issued capital.Southwestern will retain a 2% net smelter royalty payable on any commercial production from the Chocos and Condoroma properties.
About Maxy Gold Corp. Maxy Gold is focused on the acquisition, exploration and responsible development of precious and base metal properties in China and Peru. In China the Company has an exploration program underway on the MIDU joint venture in Yunnan Province where gold mineralization has been identified, and has a strategic joint venture alliance in Qinghai Province with Western Mining Group, Ltd. one of China's largest mining and development companies, where it is working two promising Au–Cu–W-Mo properties, Duoba and Danbolongwa. The Peruvian acquisition will bring different areas of opportunity and diversifies the Company’s exploration focus.
For further information: Maxy Gold Corp. Andre Gauthier, President Paul Simpson, Chairman Tel: (604) 688-8811 Tel: (604) 633-4286 Cel: (778) 999-1578 Email: info@maxygoldcorp.com Email: sps@armlaw.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statement.
BHP BILLITON AGREES IRON ORE PRICES WITH BAOSTEEL
BHP Billiton today announced it had reached agreement with China's Baosteel on the price for iron ore deliveries for the contract year commencing 1 April 2008. The following prices apply to all of its long-term supply agreements for deliveries in the contract year with Baosteel and across all of BHP Billiton's iron ore products under those agreements.
Fine Ore US cents 144.66 per dry metric tonne unit. Lump Ore US cents 201.69 per dry metric tonne unit.
President BHP Billiton Marketing, Tom Schutte said: "We note the recent 2008 contract year price settlement of a major supply source for Australian iron ore with Baosteel. We are pleased to have also reached agreement with Baosteel at the prices announced today. We will now seek to settle agreements with the remainder of our customers under existing long- term supply agreements both in China and other countries."
Chief Executive Ferrous and Coal, Marcus Randolph added: "Together with our positions in metallurgical coal and manganese, our iron ore business gives us a leading position in the supply of commodities to the steelmaking industry. We are happy to have been able to settle the prices announced today with one of our most important customers and we've been particularly pleased with the spirit in which both Baosteel and BHP Billiton undertook negotiations. At the end of what has been a long process, we believe our relationship with our customers remains as positive and strong as ever."
Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com
Australia Samantha Evans, Media Relations Tel: +61 3 9609 2898 Mobile: +61 400 693 915 email: Samantha.Evans@bhpbilliton.com
United Kingdom & South Africa Andre Liebenberg, Investor Relations Tel: +44 20 7802 4131 Mobile: +44 7920 236 974 email: Andre.Liebenberg@bhpbilliton.com
Leng Lau, Investor Relations Tel: +61 3 9609 4202 Mobile: +61 403 533 706 email: Leng.Y.Lau@bhpbilliton.com
United States Scott Espenshade, Investor Relations Tel: +1 713 599 6431 Mobile: +1 713 208 8565 email: Scott.Espenshade@bhpbilliton.com
Illtud Harri, Media Relations Tel: +44 20 7802 4195 Mobile: +44 7920 237 246 email: Illtud.Harri@bhpbilliton.com
Infill and Extension Drilling Resumes at Jinshan's Dadiangou Gold Project, China
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) is pleased to report that diamond drilling has begun at its Dadiangou Gold Project in Gansu province, China. The Phase III drill program is designed to upgrade and expand resources within the Dadiangou Main Zone where Jinshan has identified an Inferred Resource of 778,000 ounces of gold (26.3Mt @ 0.92 g/t gold; see press release dated Jan. 31, 2008 and technical report dated February 1, 2008 filed on SEDAR). Drilling will also test approximately 800 metres along strike to the west of previous drilling where prospecting and trenching indicate the shear zone may continue.
In addition to the exploration activities at site this season, Jinshan is actively advancing the Dadiangou project towards a preliminary assessment study. Environmental, hydrogeological, metallurgical, and other studies are currently ongoing and will be used to support a preliminary assessment study. The Dadiangou Project is envisioned as a potential open-pit, cyanide-leach gold operation.
Drilling, trenching, and underground exploration completed to date has shown evidence that the Dadiangou Main Zone (DMZ) extends at least 3,170 metres in strike length, with typical widths of 50 to 60 metres over 2/3 of its strike length. Within this, gold grades can be highly variable and it is anticipated that detailed definition drilling may better define the distribution of higher-grade ore shoots within the lower-grade mineralized shear zone. Infill drilling at the DMZ will target areas of known higher-grade in order to better delineate the overall distribution and quantity of gold in the Dadiangou system.
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-07-02_NR.pdf
Jinshan Gold Mines presented at the Asia Pacific Gold Forum
Dear Shareholders and Interested Parties;
Please go to the link below to launch Jinshan's presentation on Tuesday June 17, 2008 at the Asia Pacific Gold Forum http://events.onlinebroadcasting.com/denvergold/061708/feed_live.php?co=jinshan
Korea Business News
Dear Readers and Friends, To download the new May 2008 issue of Korea Business News (KBN) please click on the link below: http://www.kbc-global.com/news/files/Korea_Business_News_May01_2008.pdf (If the above link is not clickable, please copy and paste it into your browser address bar.)
Warm regards, from all at Korea Business News
Jinshan Appoints Vice President of Finance
VANCOUVER, CANADA -- Jinshan Gold Mines Inc. (TSX: JIN) announces the appointment of Mr. Rick Low, C.A. to Vice President of Finance.
Mr. Low served as Controller for Jinshan from April, 2006 to May, 2008. Mr. Low has experience in financial reporting for public companies in Canada and the U.S. Mr. Low has international experience and has held financial positions in banking, manufacturing, retail, hospitality, food and beverage, and mining. He has also participated in various debt and equity financings. Mr. Low qualified as a Chartered Accountant with Deloitte & Touche and graduated from the University of British Columbia.
Click Here to Read Complete Release:
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/NRMay30-2008.pdf
SINO GOLD NOT IMPACTED BY EARTHQUAKE SINO GOLD SUPPORTS CHINA EARTHQUAKE RELIEF EFFORT
Sino Gold Mining Limited is pleased to report that its operations and workforce in China have not been directly impacted by the countrys devastating earthquake disaster. In response to the earthquake Sino Gold has announced a donation of approximately A$100,000 in essential equipment to the earthquake relief effort. The equipment included 70 portable gas power generators, 200 sets of hand torches and 70 megaphones, which will be sent to Chengdu by chartered plane along with an emergency rescue team of 10 employees led by a senior Sino Gold executive. In addition to this, Sino Gold CEO Mr Jake Klein has extended an appeal to individuals within the company to provide donations. This disaster has deeply shocked Sino Golds 1,600 employees and contractors in China and Australia, Mr Klein said. We are fortunate to be in a position to contribute to the earthquake relief effort both financially and through our employees expertise. While the magnitude of the damage is difficult to contemplate, we have sought to provide our assistance in the most meaningful and beneficial manner possible.
This announcement is also available at www.sinogold.com.au For further information, please contact: Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations +61 2 8259 7000, info@sinogold.com.au Media Enquiries: Kate Kerrision +61 2 6746 3221, kate@katekerrison.com.au
BHP Billiton Donates US$500,000 to Support Sichuan Earthquake Relief Efforts
BEIJING, May 15 – BHP Billiton, the Diversified Minerals and Medals Sponsor of the Beijing 2008 Olympic Games and the Paralympics Games, announced today that it is donating US$500,000 (approximately RMB 3.5 million) to assist victims and provide humanitarian assistance after this week’s devastating earthquake in China. The funds will be donated to the Red Cross Society of China. BHP Billiton CEO, Marius Kloppers, said the donation reflected concerns expressed by BHP Billiton staff for the earthquake victims. “Everyone at BHB Billiton has been shocked and saddened by the devastating earthquake in China’s Sichuan Province. “Our company has a strong and enduring connection with China which extends back over 100 years. BHP Billiton extends our profound and sincere sympathies to those affected by the destruction and impact of the earthquake in China. We hope this contribution can help to ease human suffering and help in the massive task ahead of the people affected by this disaster,” he said. BHP Billiton China President, Clinton Dines, said staff across the world had also started raising funds to assist the relief efforts under the Company’s Matched Giving Program. “Contributions from our staff have rolled in very quickly. BHP Billiton is committed to match every RMB or Dollar contributed by individual staff to support the relief efforts in Sichuan. As individuals and as a company, we all feel strongly about making a contribution to China and the people who need our support at this very sad and difficult time,” he said.
About BHP Billiton BHP Billiton is the world’s largest diversified natural resources company, with some 39,000 employees across 100 operations in approximately 25 countries. Its operations encompass a broad range of commodities including aluminium, energy coal, metallurgical coal, copper, manganese, iron ore, uranium, nickel, diamonds, silver and titanium minerals, oil, gas and liquefied natural gas. In 2005, BHP Billiton became the Diversified Minerals and Medals Sponsor of the Beijing 2008 Olympic Games and the Paralympics Games, and will provide financial support to the Beijing Olympic Games and the Beijing Paralympics Games as well as the raw materials for the Olympic medals and the Paralympics medals. BHP Billiton supports a broad range of sustainability and community initiatives in China, including the conservation of near-extinct alpine plant species in the Jade Dragon Mountains of Yunnan Province through its construction and on-going sponsorship of the Lijiang Botanical Field Station. BHP Billiton also provides long-term support for the Australian Garden in Guangzhou’s South China Botanical Gardens, has adopted twin giant pandas in Wolong Sichuan, and is involved in the conservation of The Great Wall though the company’s support of the International Friends of the Great Wall organization.
Further information on BHP Billiton can be found at http://www.bhpbilliton.com. For BHP Billiton media enquiries, please contact:
Paul Wegerson Burson-Marsteller Tel: +86 10 58162525 ext. 619 Email: paul.wegerson@bm.com
International SOS Responds to Sichuan Earthquake
Beijing - 13 May 2008 International SOS, the world’s leading provider of assistance services, has activated its medical and logistics resources in Beijing, Hong Kong and Singapore, to assist the families and victims of the earthquake in Sichuan Province. Upon notification of the disaster, International SOS convened a regional crisis management team and a team of medical and logistics experts in Beijing are on standby to be despatched to Sichuan. One team will depart at 3 pm today together with a team from the Beijing Red Cross Society to Deyang which is 200 km from the epicentre of the earthquake. The crisis management team is conducting advance contingency planning to prepare for individual and mass medical and security evacuations. Damage to the local and regional communications infrastructure is creating challenges for everyone, and whilst we expect this to improve over the coming days, we will aim to provide progress updates whenever we can, as the situation progresses.
International SOS Travel Advice
In addition, we are updating clients with travel advice regularly to assist them with preparing and responding to the crisis. There is a high likelihood of continued disruptions to power supplies, communications and transport services in Sichuan in the coming days. Authorities stated that 80 percent of the buildings in the county had collapsed or were damaged from the earthquake. Landslides and repeated tremors damaged several mountain roads in the region, forcing the closure of roads to Wenchuan (epicentre of the earthquake), Lixian and Maoxian. International SOS would like to advise members to avoid the earthquake-affected region until the situation becomes clearer. Aftershocks are likely. Members are advised to check the International SOS Security Online website and local media regularly for the latest information regarding the earthquake and travel disruptions. Members are also recommended to reconfirm all relevant travel arrangements and access to transport services. At this very difficult time, we send our condolences to the victims and their families affected by the disaster. International SOS will do all we can to provide assistance to our clients, members and victims. International SOS members who require assistance should contact the International SOS 24-hour Beijing Alarm Centre on +86 10 6462 9100.
China National Gold Corporation Closes CDN$218 Million Purchase Of Jinshan Securities
VANCOUVER, CANADA -- Jinshan Gold Mines Inc. ("Jinshan") (TSX: JIN) is pleased to announce that a wholly-owned subsidiary of China National Gold Group Corporation ("China Gold"), China's largest state-owned gold producing enterprise, has completed the purchase of 42% of Jinshan's issued and outstanding common shares from Ivanhoe Mines Ltd. ("Ivanhoe Mines"). The transaction, worth CDN$217.7 million, will see China Gold become Jinshan's largest shareholder.
"The investment by China National Gold gives Jinshan a unique and strong foundation to further its corporate growth strategy in China through exploration and the consolidation of the Chinese gold industry" said Jinshan's president, Jay Chmelauskas. "In addition, China National Gold will support Jinshan in its strategy to also acquire gold assets internationally with a vision to become a leading gold producer".
Under terms of the agreement, the purchaser has acquired from Ivanhoe Mines: - Ivanhoe's entire holding of 67,520,060 common shares of Jinshan, at a price of $3.1115 per share; and - A Jinshan promissory note of $7.5 million issued to Ivanhoe Mines, due June 26, 2010, together with accrued interest at 12% from March 31, 2008.
Ivanhoe Mines will retain warrants to purchase up to 1.5 million common shares of Jinshan, each exercisable to purchase one Jinshan common share at $2.50 at any time up to June 26, 2009.
Concurrent with the completion of the transaction, the board of directors of Jinshan was increased by two members, from six to eight, with Mr. Sun Zhaoxue and Mr. Wu Zhanming appointed to the Board of Directors to fill those two board seats. Mr. Pierre Lebel has resigned as Chairman of Jinshan but will remain as a director, and Mr. Sun Zhaoxue, President of China National Gold Group, was appointed as the new Chairman. Mr. Jay Chmelauskas will continue as Jinshan's President, CEO and director. Mr. Ian He will also remain a director. Mr. Peter Meredith and Mr. R. Edward Flood resigned from the Board of Directors, and Mr. Chen Yunfei and Mr. Liu Bing were appointed to fill those vacancies.
About Jinshan
Jinshan is a Canadian mining company focused on gold production in China. The company began producing gold at the CSH Mine in July 2007 and is actively advancing its portfolio of gold exploration properties in China. Jinshan's shares are listed on the Toronto stock exchange under the symbol JIN.
Investors: Deanna Kress (N.A.): +1.604. 609.0598 / Paul Ensor (Europe): +44.207.590.5503 Email: info@jinshanmines.com Website: www.jinshanmines.com
China National Gold Group Corporation: +86.8412.3187 Email: CNGC@ChinaGoldGroup.com Website: www.chinagoldgroup.com
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's MD&A, financial statements and other periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-05-13_NR.pdf
Jinshan's First Quarter Financial Results for the Quarter Ended March 31, 2008
To view the financial statements, click on the attached file... http://www.jinshanmines.com/i/pdf/2008Q1.pdf
Sino Gold Presentation
CEO, Jake Klein's presentation titled "Growing into a Multi-Mine Gold Company" to the Macquarie Capital Securities Australia Conference is now available by clicking here
The presentation is also available at www.sinogold.com.au
For further information, please contact: Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations +61 2 8259 7000, info@sinogold.com.au Media Enquiries: Kate Kerrision +61 2 6746 3221, kate@katekerrison.com.au
BHP Billiton Olympic & Paralympic Sponsorship Update
BHP BILLITON OLYMPIC GAMES COMMUNITY EVENTS
were launched last year to celebrate our Olympic & Paralympic sponsorship and allow us to take the Olympic spirit to communities across China. In March, we hosted events with Yunnan Aluminium and Tongling Smelter. During the events -the 4th and 5th in our series of eight – more than 1,100 kids took part in sports activities and enjoyed demonstrations of Taichi ball, a traditional Chinese ball game with therapeutic benefits for the disabled. Taichi Ball has been incorporated into each event to promote the Paralympic values of friendship, respect, and determination. BHP Billiton is also proud to have the involvement of BHP Billiton Scholarship recipients from the Chinese Academy of Sciences (CAS) among the volunteers that participate in the community events.
BHP BILLITON PRODUCTION REPORT FOR THE NINE MONTHS ENDED 31 MARCH 2008
BHP Billiton today released its production report for the nine months ended 31 March 2008. Throughout this report, unless otherwise stated, production volumes refer to BHP Billiton share and exclude suspended and sold operations.
.. Year to date production increased for 12 commodities reflecting our strong track record of consistent growth on the back of projects delivered from our deep inventory of projects. First product was delivered from eight projects into commodity markets that remain strong. .. Significant increase in petroleum production with continuing ramp up of recently commissioned projects and strong facility and reservoir performance offsetting natural field decline. On track to deliver 10% volume growth for the 2008 financial year. .. Western Australia iron ore operations (Australia) achieved record quarterly and year to date production and shipments during a seasonally challenging quarter. .. Record year to date manganese ore and alloy production delivered in a strong price environment. Manganese ore also achieved quarterly production record. This was set despite restrictions on power consumption in South Africa. .. Record year to date copper production achieved as newly commissioned projects continue to ramp up in a period of strong pricing. .. The Yabulu Expansion Project (Australia) achieved first production during the quarter. .. Record year to date production of natural gas and alumina. .. Year to date production records achieved at the Worsley, Western Australia Iron Ore, GEMCO, TEMCO, Illawarra Coal, and Hunter Valley Coal (all Australia), Escondida(Chile), Paranam (Suriname), Alumar and Samarco (both Brazil), Samancor (South Africa) and Cerrejon Coal (Colombia) operations. .. Metallurgical coal production in Queensland (Australia) and nickel production at Cerro Matoso (Colombia) has resumed following extreme weather conditions and industrial action respectively. Ramp up to normal operating levels continuing. .. Southern Africa aluminium production was impacted by a mandatory 10 per cent reduction. in power consumption.
BHP Billiton Approves Worsley Alumina Efficiency And Growth Project
BHP Billiton today announced approval for the Efficiency & Growth expansion project at Worsley Alumina in Western Australia for an estimated capital investment of US$1.9 billion (BHP Billiton’s 86 per cent share). This includes approximately US$70 million of sustaining capital. The expansion project will lift capacity of the Worsley refinery from 3.5 million tonnes per annum (Mtpa) of alumina to 4.6 Mtpa (100 per cent capacity) through expanded mining operations, additional refinery capacity and upgraded port facilities. The construction phase will start immediately and first production is expected in the first half of calendar year 2011. BHP Billiton Aluminium President Jon Dudas said, "Worsley is one of the largest, lowest cost and most efficient alumina refineries in the world. This decision to invest in further production capacity underlines our confidence in the future of the alumina market. It also reflects our confidence in Worsley Alumina’s ability to continue its excellent track record of production growth". Worsley Alumina is a Joint Venture partnership between BHP Billiton (86 per cent), Japan Alumina Associates (Australia) (10 per cent) and Sojitz Alumina (4 per cent).
For further information please contact: Australia Samantha Evans, Media Relations Tel: +61 3 9609 2898 Mobile: +61 400 693 915 email: Samantha.Evans@bhpbilliton.com
SINO GOLD 2007 ANNUAL REPORT & AGM NOTICE
Sino Gold Mining Limited today released the Companys 2007 Annual Report and Notice of Annual General Meeting and these are now available on www.sinogold.com.au The AGM is to be held at 2.00pm on Tuesday 27 May 2008 at the Grace Hotel in Sydney. For further information, please contact: Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations +61 2 8259 7000, info@sinogold.com.au Media Enquiries: Kate Kerrision +61 2 6746 3221, kate@katekerrison.com.au
Balancing act needed on inflation
CHING DAILY-While latest economic figures are pointing to a slowdown, growing "external uncertainties" have prompted the country's policymakers to take a more cautious approach in their battle against inflation, officials and analysts said Wednesday."Now, we not only have to prevent a sharp downturn of the economy, but also a rebound in investment," said Li Xiaochao, spokesperson for the National Bureau of Statistics.Over the past half a year, policymakers have named inflation and overheating as their top concern, using tightening measures to cool the economy and curb inflation. But with the outbreak of the subprime crisis in the United States, an increasing number of analysts are sounding warning bells for a sudden economic downturn, largely due to weak export demand in the US.
China's coal demand in 2010 will exceed 3 billion tons
PEOPLE'S DAILY-Head of the China Coal Industry Association Wang Xianzheng predicted, on the 14th, that in 2010, China's coal demand will exceed 30 million tons. Wang Xianzheng spoke at the 2008 China International Coal Conference.Wang Xianzheng said that the annual production capacity of China's mines is 2.034 billion tons in coal mine construction; and production capacity will reach 1.104 billion tons. Projects of about 200 million tons in size have been approved. Wang Xianzheng said: "Considering that in the next few years we are to rectify come coal mines and shut down some, it is estimated that by 2010, the national coal mine production capacity will surpass 3.1 billion tons."
Jinshan Gold Mines to Hold Conference Call on Thursday April 17, to Discuss Recent China National Gold Group Transaction
VANCOUVER, CANADA - Jinshan Gold Mines Inc. (TSX: JIN) will host a telephone conference call for investors from Beijing to discuss the recent China National Gold Group transaction, which saw China National Gold purchase a 42% equity stake in Jinshan, and a new platform for growth. The call will be held on Thursday April 17, at 6:00PM Eastern, 3:00PM Pacific, (6am April 18th in Beijing). Jay Chmelauskas, CEO and President of Jinshan, and representatives from China National Gold Group will make a presentation and take questions.
The conference call may be accessed by dialing toll-free 1-866-223-7781 in Canada and the United States, or 1-416-641-6142 in the Toronto area and internationally. A simultaneous webcast of the conference call will be provided through www.jinshanmines.com. The conference call will be archived for later playback and may be accessed by dialing 1-416-695-5800 and entering the pass code 3259113, or via www.jinshanmines.com. The archived playback will be available until May 17, 2008 11:59 PM.
About Jinshan
Jinshan is a Canadian mining company focused on gold production in China. The company began producing gold at the CSH Mine in July 2007 and is actively advancing its portfolio of gold exploration properties in China. Jinshan's shares are listed on the Toronto stock exchange under the symbol JIN.
Investors: Deanna Kress / Media: Bob Williamson: +1.604. 609.0598 Email: info@jinshanmines.com Website: www.jinshanmines.com
The CCBC Beijing Chapter Proudly Presents-The Hottest Economics Topics in Town
The CCBC Beijing Chapter Proudly Presents-The Hottest Economics Topics in Town
By Mr. Mark Kruger
Minister-Counsellor, Representative of Finance Canada Head of Section (Economics and Finance), Embassy of Canada, Beijing Friday, April 25th; 8:30am
The Canada China Business Council is delighted to invite you to a breakfast seminar on two of the hottest economics topics. Mr. Mark Kruger, who is the Head of the Economics and Finance Section at the Canadian Embassy in Beijing will share his views and professional expertise with the audience. Topic 1: Rise of inflation and the Chinese Government policy response Inflation has become Chinese citizens' major worry. The government's policy response depends on what it thinks the underlying sources of inflation are and how long they might persist. This presentation will look at two views of inflation's causes and the policy response. Topic 2:The ability of the Chinese economy to decouple from a US slowdown There has been a keen debate about the extent to which the Chinese economy will suffer as a result of the US downturn. This second presentation will look at the extent to which China can "de-couple" from a slowing US economy. Program 8:30 - 9:00 Registration and networking 9:00 - 10:00 Presentation by Mr. Mark Kruger 10:00 - 10:30 Q&A
About the Speaker Mr. Mark Kruger oversees the economic and financial analysis and reporting undertaken at the Embassy. He is responsible for engaging the Chinese authorities on a broad array on economic issues including macroeconomic and financial policy as well as topics that have a significant impact on Canada’s interests. Prior to moving to Beijing, Mr. Kruger was Senior Advisor to the Canadian Executive Director at the International Monetary Fund from Jan 2003 to August 2006. From 1989 to 2003, Mr. Kruger held a number of positions in the Bank of Canada, including Assistant Chief in the Banks’ International Department, where he was responsible for international financial policy and emerging market issues. Mr. Kruger began his career working for the Alberta Petroleum Marketing Commission in Calgary, Alberta Mr. Kruger holds a BA from Colby College and an M.A. from the University of Toronto.
Event Information: Date Friday, April 25th, 2008 Time 8:30-10:30AM Venue Radisson SAS Hotel Beijing, 6A, East Beisanhuan Road 北京皇家大饭店, 朝阳区北三环东路甲6号
Ballroom (1st Floor) Price Member: RMB 180 Non-Member: RMB 260 F&B Full Breakfast R.S.V.P. to CCBC Beijing office by fax at (010) 6512-6125 or by e-mail to bj.events@ccbc.com.cn before April 23rd at 5:00 pm CCBC Breakfast Seminar Name: Title: Company Name: Telephone: E-Mail: Fax: Membership (please specify): Member ____ Non-Member____ Canada China Business Council CITIC Building, Suite 18-2, No. 19 Jianguomenwai Ave., Beijing 100004, P.R. China Tel: (8610) 8526-1820/21/22 Fax: (8610) 6512-6125 Email: bj.events@ccbc.com.cn Website: www.ccbc.com.cn/beijing
Jinfeng Resource Increased to Over 5 Million Ounces
The updated Jinfeng Mineral Resource is estimated to be 35.9 million tonnes at 4.5 g/t gold, containing 5.3 million ounces, including Measured and Indicated Resources of 30.5 million tonnes at 4.7g/t gold, containing 4.6 million ounces. The updated Jinfeng Ore Reserve is estimated to be 20.7 million tonnes at 5.2 g/t gold, containing 3.5 million ounces. These new estimates represent increase of approximately 718,000 ounces (16%) in resources and 361,000 ounces (11%) in reserves over the 2007 estimates. Open pit reserves are more than one million ounces. Mineralisation at Jinfeng remains open down plunge.
Commenting on the increase, Sino Gold Chief Executive Officer Jake Klein said:
These increases demonstrate again that Jinfeng is a world-class, high-grade orebody. With resources of more than 5 million ounces and reserves of 3.5 million ounces, Jinfeng will certainly be a long-life, low-cost operation.
The new open-pit reserve provides additional tonnes that will extend the life of the open pit and provide valuable operational flexibility.
Jinfeng is already one of the largest gold mines in China and provides Sino Gold with a strong platform to rapidly grow its gold production in the worlds largest gold producing country.
The announcement continues - the full announcement is available from www.sinogold.com.au.
Regards,
Julia Brown Sino Gold Mining Limited
Level 22, 44 Market Street SYDNEY NSW 2000 Ph: (02) 8259 7000
SINO GOLD MARCH 2008 QUARTERLY REPORT
New estimates increase Sino Gold's total controlled Mineral Resources to 8.2 million ounces and Ore Reserves to 4.8 million ounces (100% of each project), excluding any contribution from Eastern Dragon. Mineral Resources increased by 3.3 million ounces and Ore Reserves by 1.5 million ounces during 2007. Jinfeng
Gold production totaled 30,976 ounces for the quarter at a cash cost of US$429/ounce. Guidance for Jinfengs 2008 production to a range of 150,000 to 160,000 ounces at an average cash cost of approximately US$370/ounce. Underground development remains on-track to contribute to ore production from late 2008. Increased Jinfeng Mineral Resources total 5.3 million ounces and Ore Reserves total 3.5 million ounces. Jinfeng ore body remains open at depth down-plunge. White Mountain
White Mountain project currently on budget and progressing very well towards commissioning in the second half of 2008. Updated Ore Reserve estimate provides White Mountain with a mine life of at least 10 years. Beyinhar
Initial Beyinhar Ore Reserve of 21.4 million tonnes at 0.72g/t gold, containing 0.5 million ounces. Field work re-commenced and various studies and permits progressed towards enabling a development decision in late 2008. Eastern Dragon
Exploration Licence for Lode 5 issued and drilling scheduled to commence in June quarter. Exploration
Drilling to follow-up the initial mineralised hole at the Yandan prospect in Guangxi Province intercepted 59m at 1.2g/t gold including 6m at 2.7g/t gold. Corporate
Sino Gold acquired an effective 72% interest in the Eastern Dragon Lode 5 gold-silver deposit. Net available cash of US$84 million at 31 March 2008 The complete Quarterly Report and presentation can be downloaded from www.sinogold.com.au
For further information, please contact:
China National Gold Corporation Purchases Cdn$218 Million of Jinshan Securities with a Mandate to Create a Leading Global Gold Producer
VANCOUVER, CANADA - Jinshan Gold Mines Inc. ("Jinshan") (TSX: JIN) is pleased to announce that China National Gold Group Corporation ("China Gold"), China's largest state-owned gold producing enterprise and its financial partners, have agreed to purchase the entire holding of Ivanhoe Mines Ltd ("Ivanhoe Mines") in Jinshan. The transaction, worth CDN$217.7 million, will see China Gold acquire Ivanhoe Mines':
Ivanhoe's entire holding of 67,520,060 common shares of Jinshan Gold Mines, at a price of $3.1115 per share; and A Jinshan promissory note of $7.5 million issued to Ivanhoe Mines, due June 26, 2010, together with accrued interest at 12% from March 31, 2008. Upon closing of the transaction, the purchaser will replace Ivanhoe Mines as Jinshan's largest shareholder with 42% of Jinshan's issued and outstanding common shares. Ivanhoe will retain warrants to purchase up to 1.5 million common shares of Jinshan, each exercisable to purchase one Jinshan common share at $2.50 at any time up to June 26, 2009.
To view the entire release, click on the attached file... http://www.jinshanmines.com/i/pdf/2008-04-10_NR.pdf
Launch of BHP Billiton China Website
Ladies and Gentlemen,
On behalf of BHP Billiton China, I am pleased to announce the launch of our new BHP Billiton China website –www.bhpbilliton.com.cn Through our Chinese language website, we will be able to keep you updated about recent developments at BHP Billiton, and better able to reflect the growing importance of the China market to our business. In the website, you will get the latest updates and be able to access to information about BHP Billiton’s Charter Values, history, our global business profile, global Sustainability model, and see materials, clips and highlights of our China approach to sustainability, community activities, our people, and our sponsorship of the Beijing 2008 Olympic and Paralympic Games. We’ve tried to make our website as China-centric and relevant as possible to all stakeholders. We hope you will enjoy visiting the new website and will use it as a valuable resource to learn more about BHP Billiton and the industry. We also welcome any comments you may have on how we can improve our website to best meet your needs. Please let your customers, counterparts, friends and other contacts know about the new website. If you experience any problems using the new website or have any suggestions, please contact us directly at bhpbillitonchina@bhpbilliton.com. We welcome you to visit us on the web at www.bhpbilliton.com.cn today! Sincerely, Clinton Dines President BHP Billiton China
BHP Billiton Olympic & Paralympic Sponsorship Update in Feb. 2008.
BHP Billiton hands over to BOCOG the metals from Australia & Chile that will be used to produce the Beijing Games medals. The Chilean Ambassador to China and the Australian Consul General were on hand Headline News to witness this important milestone in the Olympic & Paralympic medal production process. BHP BILLITON DELIVERS METALS TO BOCOG: BHP Billiton hosted a metal handover ceremony for BOCOG at the China Banknote Printing & Minting Corporation’s Shanghai Mint. BHP Billiton China President Clinton Dines spoke of the importance of the occasion and the medal production process before officially handing over to BOCOG the 13.04 kg of gold, 1340 kg of silver and 6930 kg of copper that will be used in the production of the medals. Mr. Zhao Dongming, Director of BOCOG’s Cultural Activity Department, said the handover of the raw materials for the medals marked a significant milestone in the countdown to the Games and that BOCOG was grateful for BHP Billiton’s continued support of the Beijing Games. Chilean Ambassador to China, Mr. Fernando Reyes-Matta, joined the celebration as the gold for the gold medals and copper for the bronze medals were sourced from BHP Billiton’s Escondida and Spence operations in Chile. Australian Consul General Ms. Susan Dietz-Henderson represented Australia where the silver was sourced from the Cannington mine in Queensland. International and Chinese media were also on hand to mark the occasion. The Shanghai Mint will create 1,000 medals for each gold, silver and bronze category for both the Olympic and Paralympic Games (totaling 6,000 medals) by June 2008. Olympic Heroes In Action BHP BILLITON OLYMPIC GAMES COMMUNITY EVENTS continue their tour around China EARLY BIRD: Raelene Boyle with the following upcoming events: visits Beijing in January. March 20: Kunming, Yunnan March 29: Tongling, Anhui April 26: Ma’anshan, Anhui June 7: Jinchang, Gansu June 28: Beijing The community events enable BHP Billiton and Olympic Hero GAO MIN to take the Olympic spirit and Paralympic values of equality and respect to communities across China. BHP Billiton Olympic Hero and Australian track & field legend RAELENE BOYLE regularly participates in BHP Billiton’s Community Events in Australia and is eager to be back in Beijing for the Games in August. Raelene’s athletics career spans three Olympics (1968, 1972, 1976) and four Commonwealth Games (1970 – 1984), during which she won three Olympic silver medals and seven Commonwealth gold medals.
SINO GOLD - 2007 FULL YEAR RESULTS
KEY POINTS
Loss of A$24.9 million after A$14.5 million in finance costs (including A$8.1 million convertible note inducement and coupon). Net assets totalled A$345.9 million at 31 December 2007, including net available cash of A$39.0 million with a further A$107.0 million raised subsequent to the year end. Construction of the Jinfeng Gold Mine was completed and commercial production declared on 1 September 2007. Jinfengs Ore Reserves and Mineral Resources increased to 3.2 million ounces and 4.6 million ounces, respectively. The White Mountain Project commenced development in the second half of 2007 with Ore Reserves 0.8 million ounces now supporting a >10 year mine life. Take-over of Golden China Resources Corporation completed. 72% of high-grade Eastern Dragon gold-silver deposit acquired for US$90M. Substantial exploration and drilling programs in progress to further consolidate Sino Golds position as the leading foreign gold company in China. Equity issued during the year raised a net A$236.9 million, providing a strong balance sheet to fund growth and acquire Eastern Dragon. During 2007, Sino Gold has put in place the foundation for strong future profits by commencing gold production at its flagship Jinfeng Gold Mine, commencing development of the White Mountain Gold Mine and successfully acquiring both the Golden China Resources Corporation and the Eastern Dragon gold-silver deposit.
The complete announcement and presentation can be downloaded from www.sinogold.com.au
For further information, please contact:
Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations +61 2 8259 7000, info@sinogold.com.au
Media Enquiries: Kate Kerrision +61 2 6746 3221, kate@katekerrison.com.au
JINFENG BACK AT FULL PRODUCTION
Sino Gold Mining Limited (ASX:SGX, HKSE:1862) is pleased to announce that the power supply in Guizhou Province has returned to norm |