Property News
July 13, 2006
Production in the second quarter was down to 2,076 oz due to the fact that all ore mined during the month of June was stockpiled and will be processed during the September quarter.
December 31, 2005
Announced total ore mined in 2005 was 98,363 tonnes. Gold production improved to 5,810 ounces with head grade of 5.0 gpt and gold recovery of 86.3%. The exploration program of five deep diamond drill holes from surface between Jianchaling and Zhangjiashan has now been completed without discovering significant new
mineralisation in the ‘Gap’ area.
February 28, 2005
Chinese gold miner Sino Gold Ltd posted a AUD20.86 million loss for 2004 but said the future looked positive with strong cash flows expected from its two-million ounce Jinfeng project in 2006. Australian Associated Press reports that the 2004 loss included a AUD10.9 million writedown at Sino's Jianchaling gold mine in the Shaanxi Province and a AUD2.2 million write-off relating to its Jinkang exploration property. Depreciation and amortisation knocked another AUD7.2 million off the bottom line. The result compared to a AUD3.38 million profit in 2003.
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