CGG:CC - China Gold International Resources Corp. Ltd. Announces 2022 Production Results & Provides 2023 Guidance
(TheNewswire)
VA NCOU VE R – TheNewswire - J a n ua r y 19 , 202 3 - C h i n a G o l d I n t e rn a ti o na l R es o u r c es C o rp . L t d . ( T S X :C G G ) ; ( H KE x : 2099 ) (“ C h i n a G o ld I n t e r na t i ona l R es o u r c e s ” o rt h e “ C o m p a n y ” ) is p l eas ed t o p r o v i d e p r e li m i na r y full year production resultsfor 20 22 an d an n o u nc e annualproduction guidance f o r 202 3 .
20 22 Preliminary Production Results :
• The c onsolidated gold production isapproximately 238,880 ounces (approximately 7.43 tonnes), slightly lower than the 2022 production guidance rangeof 241,130 ounces ( approximately 7.5 tonnes) ?
• The copper production is approximately 187 million pounds(approximately 85,000 tonnes) which was in line with the 2022production guidance range.
The production results above are preliminary. Theactual annual production data will be released in the 2022 annualfinancial statements of the Company.
• The anticipated consolidated goldproduction will be between 241,130 ounces ( 7.5 tonnes) and 244,346 ounces (7.6tonnes).
• Total copper production is estimated tobe between 1 89 millionpounds (86 , 000 tonnes) and191 million pounds (87 , 000tonnes).
The Company’s Chairman and CEO, Mr. Junhu Tong, said,“In spite of the negative impact of COVID-19 onsupply chain, our teams remained resilient in executing ourplans and substantially achieved 2022 production guidance under challenging circumstances. Goingforward , the Company will continue to focus onprofitability and reliability, while unlocking the potential of our existing assets. T he Company will endeavor to optimize itsoperations and achieve production growth in 2023”.
The Company expects to report its 202 2 annual financial statements by theend of March 202 3 . Inconnection with the release, management will hold its annual roadshowevent to discuss the Company’s year-end results andperformance.
About China Gold InternationalResources
China Gold International Resources is a gold and basemetal mining company incorporated in BC, Canada and operates twomines, the CSH Gold Mine in Inner Mongolia, China and the JiamaCopper-Gold Polymetallic Mine in Tibet, China. The Company’sobjective is to build shareholder value through growing production atits current mining operations, expanding its resource base, andacquiring and developing new projects internationally. The Company islisted on the Toronto Stock Exchange (TSX: CGG) and the Main Board ofThe Stock Exchange of Hong Kong Limited (HKEx: 2099).
For further information on the Company, please refer toSEDAR’s website at www.sedar.com, The Stock Exchange of Hong KongLimited’s website at www.hkex.com.hk, the Company's website atwww.chinagoldintl.com, or call the Company at +1-604-609-0598 andemail to info@chinagoldintl.com.
Cautionary Note About Forward-Looking Statements
Certain information regarding ChinaGold International Resources contained herein may constituteforward-looking statements within the meaning of applicable securitieslaws. Forward-looking statements may include estimates, plans,expectations, opinions, forecasts, projections, guidance or otherstatements that are not statements of fact. Although China GoldInternational Resources believes that the expectations reflected insuch forward-looking statements are reasonable, it can give noassurance that such expectations will prove to have been correct.China Gold International Resources cautions that actual performancewill be affected by a number of factors, most of which are beyond itscontrol, and that future events and results may vary substantiallyfrom what China Gold International Resources currently foresees.Factors that could cause actual results to differ materially fromthose in forward-looking statements include market prices,exploitation and exploration results, continued availability ofcapital and financing and general economic, market or businessconditions. The forward-looking statements are expressly qualified intheir entirety by this cautionary statement. The information containedherein is stated as of the current date and subject to change afterthat date.
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