Sino Gold Mining Limited

Published : December 11th, 2008

Production Guidance and Project Update

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2009 PRODUCTION GUIDANCE AND PROJECT UPDATE


 

 

11 December 2008

 

Sino Gold Limited (ASX:SGX, SEHK:1862) is pleased to provide initial production guidance for the 2009 calendar year as well as an update on the Companys Jinfeng and White Mountain Gold Mines.

Following completion of the annual budgeting and planning process, the combined 2009 gold production for Jinfeng and White Mountain is planned to be in the range of 210,000 to 230,000 ounces of gold at a cash operating cost of less than US$400/ounce, a substantial increase in gold production over 2008.

The Companys flagship Jinfeng operation continues to perform well and is on-track to meet production guidance of 45,000 ounces for the December 2008 quarter, bringing total 2008 gold production to approximately 150,000 ounces of gold.

Jinfengs year-to-date gold production is as follows:

 

Gold Production (ounces)

Cash Operating Cost (US$/ounce)

Nine months to September 2008

104,638

411

October 2008

15,232

372

November 2008

15,443

369

 

White Mountain continues to be on-track for commercial gold production in early 2009. All areas of the project have now been operated in parallel for short periods and production is planned to ramp-up over the course of 2009.

Further information on the progress of Sino Golds projects will be in the December 2008 Quarterly Report, which is currently scheduled to be released on 29 January 2009.

About Sino Gold

Sino Gold is the leading international gold exploration and mining company in China.

 

The 82%-owned Jinfeng Gold Mine in southern Chinas Guizhou Province has Ore Reserves containing 3.5 million ounces at an average grade of 5.2g/t gold.

 

Jinfeng is now the second largest gold mine in China with estimated 2008 gold production of approximately 150,000 ounces. Jinfengs gold production is planned to increase as the processing plant is de-bottlenecked and as higher-grade ore from the underground mine increasingly supplements ore from the open pit.

The 95%-owned White Mountain Gold Mine in northeast Chinas Jilin Province has Ore Reserves containing 0.8 million ounces at an average grade of 3.8g/t gold.

 

White Mountain is planned to commence commercial gold production in early 2009. Upon reaching design production rates, White Mountain will produce an average of 65,000 ounces of gold annually.

 

Feasibility studies are progressing at both of the Companys Beyinhar and Eastern Dragon projects in northern China.

 

Sino Gold is listed on the Australian Stock Exchange (ASX Code:SGX) and The Stock Exchange of Hong Kong (SEHK Code:1862).

 

For further information regarding Sino Gold please contact:

 

Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations

+61 2 8259 7000, info@sinogold.com.au

 

Media Enquiries:Kate Kerrison

+61 2 6746 3221, kate@katekerrison.com.au

 

 

 

 
Data and Statistics for these countries : China | Hong Kong | All
Gold and Silver Prices for these countries : China | Hong Kong | All

Sino Gold Mining Limited

CODE : SGX.AX
ISIN : AU000000SGX4
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Sino Gold is a producing gold company based in Australia.

Sino Gold is listed in Australia, in Germany and in Hong Kong. Its market capitalisation is AU$ 2.4 billions as of today (US$ 2.2 billions, € 1.5 billions).

Its stock quote reached its lowest recent point on December 06, 2002 at AU$ 1.05, and its highest recent level on March 20, 2008 at AU$ 8.81.

Sino Gold has 292 600 453 shares outstanding.

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Annual reports of Sino Gold Mining Limited
Annual Report 2007
Project news of Sino Gold Mining Limited
8/11/2009(White Mountain)Interruption of Operations at White Mountain
3/11/2009(Eastern Dragon)Eastern Dragon Announcement - March 2009
1/29/2009(Eastern Dragon) Initial Eastern Dragon Jorc Ore Resource and Reserve
12/11/2008(Jinfeng)Production Guidance and Project Update
12/5/2008(White Mountain)Fatal Accident at White Mountain Mine
11/10/2008(White Mountain)OFFICIAL OPENING OF WHITE MOUNTAIN MINE
4/23/2008(White Mountain Prospect)WM Mining Licence Granted
4/14/2008(Jinfeng)Jinfeng Resource Increased to Over 5 Million Ounces
2/21/2008(Jinfeng)Jinfeng Back at Full Production
2/13/2008(White Mountain)White Mountain Ore Reserve increased by 81%
1/29/2008(Jinfeng)Jinfeng February Production to be impacted by Power Supply
12/12/2007(Eastern Dragon)- Major Acquisition & Placement
8/6/2007(White Mountain Prospect)White Mountain Development
7/4/2007(Jinfeng)Jinfeng Gold Mine Update
5/14/2007Jinfeng Achieves Major Production Milestone
2/20/2006(Beyinhar)Announces successful capital raising
Corporate news of Sino Gold Mining Limited
12/18/2009Final Email from Sino Gold
10/29/2009Releases Quarterly Report & Scheme Booklet
10/28/2009Postpones Quarterly Report Release
10/26/2009Quarterly Report Teleconference October 09
8/19/2009Half Year Results Teleconference Details
8/13/2009Acquires Option Over Caijiagou Gold Project
8/3/2009New Joint Venture
8/4/2009Diggers & Dealers Presentation
7/16/2009June 2009 Quarterly Report
7/15/2009Quarterly Report Teleconference - Tomorrow
7/7/2009Inclusion in S&P ASX 100 July 09
6/4/2009Changes to Exploration Alliance
2/19/20092008 Full Year Results - Teleconference
1/28/2009December 2008 Quarterly Report
1/23/2009Quarterly Report - January 2009
11/14/2008Announcement: LANDMARK ENVIRONMENT AND COMMUNITY AGREEMENTS ...
11/12/2008Announcement: DEVELOPMENT OF THE YEAR AWARD
9/8/2008Announces RMB231 (US$34) Million Loan for White Mountain
8/18/20082008 Half Year Results Announcement
5/19/2008not impacted by Earthquake - supports China Earthquake Relie...
4/14/2008 March 2008 Quarterly Report
1/23/2008Quarterly Report
1/11/2008First Acquisition by Sino Gold Fields Alliance
12/14/2007Successfully Completes A$170 Million Placement
11/5/2007White Mountain Project Development Permit Received
11/5/2007Outcome of Offer to Convertible Noteholders
10/24/2007and Golden China Announce Mailing of Take-Over Bid Circular ...
10/16/2007 September 2007 Quarterly Report
9/18/2007China soon to be #1 Gold Producer
9/10/2007and Golden China announce signing of Support Agreement - 9 S...
8/13/2007Sino Golden China Transaction
6/14/2007Expands Ground Position in Shandong
5/30/2007Increases Jinfeng Reserve to 3.2 Million Ounces
4/30/2007March 2007 Quarterly Report
2/24/2006(Beyinhar)Completion of share placement
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