Gold grade and gold won decreased during the quarter, despite higher production throughput and improved BACOX(C) operations, due to the treatment of lower grade material. Delivery of substantial tonnages of higher grade concentrates was delayed over two months until early October due to regional flooding and infrastructure damage in the Fujian Province. Efforts continue toward securing further international concentrate sources. The base metal flotation plant, goldroom and refinery operated without incident during the quarter.
June 30, 2007
Equivalent gold recovered for the year ended Jun30/07 was 33,468 ounces, while gold sales were 37,782 ounces.
June 19, 2007
Announced that it has reached an agreement to amend the existing technology licensing agreement for the use of the proprietary bacterial oxidation (BACOX(C)) technology employed by the BioGold production facility. An amended agreement will extend Golden China's exclusive rights to the use of the BACOX(C) technology in China and Korea from the current ten years to an open-ended term in perpetuity (subject to certain
rights of termination) and will enable Golden China to sublicense the technology in these regions. As well, the amended agreement will remove BacTech's entitlement to any future royalties and eliminate its right to
acquire a 5% to 15% equity interest in any future BACOX(C) operations built by Golden China.
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