CGG:CC - Proposed Change Of Auditor
(TheNewswire)
VANCOUVER, May 15, 202 5 – TheNewswire- This announcement is made by China GoldInternational Resources Corp. Ltd. (the “Company”, together withits subsidiaries, the “Group”) pursuant to Rule 13.51(4) of theRules Governing the Listing of Securities on The Stock Exchange ofHong Kong Limited (the “Stock Exchange”) and to Section 4.11 ofNational Instrument 51-102 Continuous Disclosure Obligations (“NI51-102”).
The Board announces that the current auditor of theCompany, Deloitte Touche Tohmatsu (“Deloitte”), will retire asauditor of the Company with effect from the conclusion of theforthcoming annual general meeting of the Company to be held on June26, 2025 (the “AGM”).
Taking into account that Deloitte has served as auditor of theCompany for 15 consecutive years, the Board is of the view that achange of auditor after an appropriate period of time is a goodcorporate governance measure to ensure the independence andobjectivity of external audit services. The Company has communicatedwith Deloitte on theproposed change of auditor and learned that it has no disagreementwith such proposed change. The Company has received a confirmationletter from Deloitte confirming that there are no matters in respect of itsretirement as auditor of the Company that needto be brought to the attention of the shareholders of the Company (the“Shareholders”). The Board has confirmed that there are no mattersin respect of the proposed change of auditor that need to be broughtto the attention of the Shareholders. There are no “reportableevents” (as defined in Section 4.11 of NI 51-102), between theCompany and Deloitte. The Board would like to take this opportunity toexpress its sincere gratitude to Deloitte for its professionalservices rendered to the Company over the past years.
With the recommendation of the audit committee of theCompany (the “Audit Committee”), the Board has resolved to propose to the S hareholders to appoint BDO Limited (“BDO”) as the new auditor of theCompany with effect from the conclusion of the AGM, and subject to the approval of the S hareholders at theAGM and the completion of BDO’s client acceptance procedures.
The Audit Committee has considered a number of factorswhen endorsing BDO to the Board as the new auditor of the Company,including but not limited to (i) their experience in handling auditwork for companies listed on the Stock Exchange, their industryknowledge and their familiarity with the requirements under theListing Rules and the Hong Kong Financial Reporting Standards; (ii)their qualification to act as an external auditor for companies listedin Hong Kong and Canada; (iii) their resources allocation, quality andcapability including but not limited to manpower, time and otherresources allocation; (iv) their independence and objectivity; (v)their audit fee; (vi) their market reputation; (vii) the “Guidelinesfor Effective Audit Committees – Selection, Appointment andReappointment of Auditors” issued by the Accounting and FinancialReporting Council (“AFRC”) in December 2021 (the “Guide”),including section 2 “Selection and Appointment of Auditors” of theGuide; and (vii i ) the“Guidance Notes on Change of Auditors” published by AFRC inSeptember 2023. Based on the above, the Audit Committee has assessedand considered that BDO isindependent, competent and capable (includingmanpower, expertise, time and other resources) to perform a high-quality audit and is suitable to act as the new auditor of theCompany.
A circular containing, among other things, details ofthe proposed appointment of BDO as the newauditor of the Company together with the noticeconvening the AGM will be published in due course.
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 Minein Inner Mongolia, China and the Jiama Copper-Gold Polymetallic Minein Tibet, China. The Company’s objective is to build shareholdervalue through growing production at its current mining operations,expanding its resource base, and acquiring and developing new projectsinternationally. The Company is listed on the Toronto Stock Exchange(TSX: CGG) and the Main Board of The Stock Exchange of Hong KongLimited (HKE X :2099).
For further information on the Company, please refer to SEDAR’swebsite at www.sedar.com, The Stock Exchange of Hong Kong Limited’swebsite 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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