China Gold International announces Jiama Mine expansion update and revises 2015 copper production guidance
China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (the “Company” or “China Gold International Resources”) provides an update on the expansion of the Jiama Copper-Gold Polymetallic Mine (the “Jiama Mine” or “Jiama”) and revises its 2015 copper production guidance.
The original schedule of commissioning Stage One of Phase II expansion at the Jiama Mine by the fourth quarter of 2015 was deferred due to the defects detected during the loaded test run that may not be fully eliminated by the end of 2015. As a result, the Company revises its 2015 copper production guidance to 37.5 million pounds, a 21% increase from the 2014 actual copper output of 31 million pounds. The Company aims to restart the commissioning of Stage One in the second half of 2016. The construction of Stage Two is under way and is expected to be completed in the second half of 2016.
Analysts, investors, media and general public are encouraged to visit the Company’s website at www.chinagoldintl.com, The Stock Exchange of Hong Kong Limited’s website at www.hkex.com.hk or SEDAR at www.sedar.com or contact the Company with any questions.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the People’s Republic of China. The Company’s objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects internationally. The Company is listed on the Toronto Stock Exchange (TSX: CGG) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
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Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although China Gold International Resources believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China Gold International Resources cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what China Gold International Resources currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein