China Gold International Reports Year-End 2018 Results and Provides 2019 Outlook
China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (the "Company" or "China Gold International Resources") is pleased to report Year-End 2018 results and provide 2019 Outlook.
FINANCIAL, PRODUCTION AND OPERATION HIGHLIGHTS
2018 Fourth quarter highlights
2018 Annual highlights
CSH Mine Year ended December 31, 2018 2017 Total production cost (US$) of gold per ounce 1,164 1,055 Cash production cost* (US$) of gold per ounce 750 670 * Non-IFRS measure
Jiama Mine Year ended December 31, 2018 2017 Total production cost* (US$) of copper per pound 2.97 2.47 Total production cost* (US$) of copper per pound 2.08 1.36 after by-products credits*** Cash production cost** (US$) per pound of copper 2.25 2.05 Cash production cost** (US$) of copper per pound 1.36 0.94 After by-products credits***
* Production costs include expenditures incurred at the mine sites for the activities related to production including mining, processing, mine site G&A and royalties etc.
** Non-IFRS measure
*** By-products credit refers to the sales of gold and silver during the corresponding period.
LIQUIDITY AND CAPITAL RESOURCES
2019 PRODUCTION AND OPERATING OUTLOOK:
ANNUAL RESULTS INVESTOR AND MEDIA PRESENTATION
Management will hold its 2018 Annual Results Investor and Media Presentation in Hong Kong on March 28, 2019 at 10 a.m. (Hong Kong time). Year-End 2018 results and performance will be discussed with a question and answer period.
For a detailed look at the financial statements and MD&A for the year ended December 31, 2018, please visit the Company's website at www.chinagoldintl.com, The Stock Exchange of Hong Kong Limited's website at www.hkex.com.hk or SEDAR at www.sedar.com.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the People's Republic of China. The Company's objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects internationally. The Company is listed on the Toronto Stock Exchange (TSX:CGG.TO) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx:2099).
For additional information on China Gold International Resources Corp. Ltd., please refer to its SEDAR profile at www.sedar.com or contact Tel: 604-609-0598, Email: firstname.lastname@example.org, Website: www.chinagoldintl.com.
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although China Gold International Resources believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China Gold International Resources cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what China Gold International Resources currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.