China Goldmines plc
China Goldmines plc is a gold resource company focussed on the discovery and development of gold projects in the Hunan Province. China is now the world’s largest gold producing nation.
China Goldmines’ Shenjiaya and Xiaotaoyuan Prospects sit in a mineralised and base metal region in the western part of the province. It has been independently estimated that a JORC code compliant inferred resource estimated a gold resource of 1.83 million ounces is contained in the Shenjiaya Prospect.
The eight gold mines within the prospect are expected to extract 150,000 ounces of gold annually over the long term.
In early 2008, China Goldmines poured its first gold to mark the opening of its new production plant at its Shenjiaya Prospect.
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Armed thieves take five tons high-grade ore from China Goldmines
China Goldmines PLC (AIM: CGM) said a group of 50 or more people - some armed - broke into the premises of the Xiang Lu and the Bao Mu Yuan plant of its Guanzhuang gold mine and stole at least 5 tons of high-grade ore in an attack on May15 and 16. No one was injured.
In a production update, the group said there had been small scale incidents prior to this attack which were resolved by internal security and local police, but the latest attack represents an escalation due to the number of robbers involved, the use of weapons and the physical and verbal threats to staff. It all appeared to be well co-ordinated and organised, with the objective of stealing the high-grade ore more than 1,000 grams of gold per ton.
CGM's Chinese joint venture company, Hunan Westralian Mining Co Ltd, decided to temporarily close the Xiang Lu mine site for the safety of staff and to avoid further theft of high-grade ore.
China Goldmines is working closely with the county government and police in reviewing this attack and is taking all necessary action to help apprehend the culprits and ensure the safety of its workers.
Other China Goldmines plc news
- China Goldmines sells all current assets
2009-08-27
