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the whole or any part of the contents of this
announcement.
(a company
incorporated under the laws of British Columbia, Canada with limited
liability)
(Hong Kong Stock Code: 2099)
(Toronto Stock Code: CGG)
VANCOUVER, BC, Jan. 22, 2021
/CNW/ - China Gold International Resources Corp. Ltd. (TSX:
CGG; HKEx: 2099) is pleased to provide preliminary full year
production results for 2020 and announce annual production guidance
for 2021.
Please see the attached announcement for more details.
By order of the Board
China Gold International Resources Corp. Ltd.
Mr. Liangyou
Jiang
Chairman and Chief Executive Officer
Hong Kong, 22 January
2021
As at the date of this announcement, the Board of Directors
of the Company comprises of Mr. Liangyou
Jiang, Mr. Shiliang Guan, Mr.
Weibin Zhang and Ms. Na Tian as Executive Directors, Mr. Junhu Tong
as Non–Executive Director, and Mr. Ian He, Mr. Wei
Shao, Dr. Bielin Shi and Ms. Ruixia
Han as Independent Non–Executive
Directors.
China Gold International
Resources Corp. Ltd.
Provides
Preliminary 2020 Production
Results and
2021 Outlook
VANCOUVER, January 21, 2021 - China Gold International Resources Corp. Ltd. (TSX: CGG;
HKEx: 2099) ("China Gold International Resources" or
the "Company") is pleased to provide preliminary full year
production results for 2020 and announce annual
production guidance for 2021.
2020 Preliminary
Production Results:
- The consolidated gold production is approximately 234,700
ounces (approximately 7.3 tonnes), exceeding the 2020 production
guidance of 212,000 ounces by about 10%. The copper production is
approximately 176 million pounds (approximately 80,000 tonnes),
exceeding the 2020 production guidance of 145 million pounds by
more than 21%. The above are preliminary results. The actual annual
production data shall be released in the 2020 annual financial
statements of the Company.
Production Guidance for
2021:
- The Company anticipates production of approximately 235,000
ounces of gold in 2021.
- The Company anticipates production of approximately 177 million
pounds of copper in 2021.
The Company's Chairman and CEO, Mr. Liangyou
Jiang, said, "2020 has been a challenging year for the
Company due to the volatile market conditions, the impact of
Covid-19 pandemic, and the uncertainty with sharp downturn of
global economy. However, our management team and staff have
overcome all the difficulties and achieved great success by means
of improved operational excellence, outstanding HSE management,
continuous cost control and risk prevention, resulting in the best
annual performance of the Company in the history. The copper
production of Jiama Mine reached a
historical high, and CSH Mine operated smoothly
with the gold production on a consistent high level. The
total actual copper and gold production has greatly exceeded the
original production guidance. The Company will
continue improving its operation in 2021, steadily achieve
performance milestones, and create value for our shareholders."
Final Year-End 2020 Results:
The Company expects to report its 2020 annual financial
statements by the end of March 2021.
In connection with the release, management will hold its
annual roadshow event to discuss the Company's year-end results and
performance.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is incorporated in
British Columbia, Canada and
operates both profitable and growing mines, the CSH Gold Mine in
Inner Mongolia Autonomous Region, 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).
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 is stated as of the current date
and subject to change after that date.
SOURCE China Gold International Resources Corp. Ltd.
