Jinshan Gold Mines
Jinshan Gold Mines is focused on gold production and acquisitions 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.
China National Gold, a Chinese state-owned enterprise and the largest gold producer in China owns approximately 42% of Jinshan's shares.
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Jinshan Gold Mines acquires Jiama property from China National Gold
Jinshan Gold Mines Inc (TSX:JIN) said it has signed a memorandum of understanding with China National Gold Corp and another partner to acquire a 100 percent interest in the Jiama property in Southern Tibet, a polymetallic deposit showing copper, molybdenum, gold, silver and other minerals.
The parties will now commence negotiating definitive agreements regarding the deal.
Jinshan has also begun preparing an NI 43-101 independent technical report and an independent valuation of the property, scheduled to be completed in the fourth quarter of 2009.
If definitive agreements are concluded, completion of the transaction is anticipated to be subject to the approval of Jinshan's shareholders and the TSX.
The Jiama property is currently in the development stage, and the current owners have nearly completed construction of a first stage of mining and processing infrastructure that establishes an underground mining operation with a production capacity of 6,000 tonnes per day.
The operation will produce a copper concentrate with gold and silver credits and a molybdenum concentrate. The property owners have also obtained relevant permits for initial mining operations on the property.
Jinshan is a mining company whose principal asset is the CSH Gold Mine located in Inner Mongolia, China. China National Gold, a Chinese state-owned enterprise and the largest gold producer in China, owns approximately 41 percent of Jinshan's shares.
Other Jinshan Gold Mines news
- Jinshan Gold says column leaching of CSH mine crushed ore significantly improves recoveries
2009-12-09 - Jinshan Gold reports new record gold production at CSH mine in September
2009-10-20 - China National Gold’s Xin Song appointed new CEO of Jinshan Gold Mines
2009-10-14 - Jinshan Gold Mines achieves record production in August
2009-09-10 - Jinshan Gold’s Mongolia Pacific secures US$31 credit facility from China National Gold Group
2009-06-22
