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Sydney-based Sino Gold is now producing from the 5.3 million ounce Jinfeng gold resource in southern China. Upon reaching planned production rates in 2008, the Jinfeng operation is forecast to produce 180,000 ounces of gold annually. Sino Gold is determined to then increase gold production to optimal levels as quickly as possible.
Operating the Jianchaling gold mine from 1998 to September 2006 provided much of Sino Gold’s “knowledge base” – how to negotiate, acquire, design, construct and operate effectively in China.
Continued exploration success at White Mountain during 2007 culminated in the resource increasing to 1.1 million ounces and reserves increasing to 0.8 million ounces. In August 2007, the Company’s Board of Directors approved development of White Mountain. Construction is on-track to commence commissioning the White Mountain processing plant in late 2008.
In late 2007, Sino Gold acquired Golden China Resources Corporation and the Eastern Dragon gold deposit which bring several exploration joint ventures with known gold resources to the Company.
Our Shandong and Sanjianfang projects are early-stage exploration joint ventures.
Sino Gold’s Business Development and Project Generation Group is comprised of three regional teams – Golden Triangle, Northern China and Shandong Province. These teams explore our existing tenements and evaluate further acquisitions in each gold belt. This focused approach assists in developing the local knowledge of opportunities and relationships key to successful exploration in China.
In addition to these regional teams, the 50/50 "Sino Gold Fields Alliance" with Gold Fields Limited (the world's fourth largest gold company) is exploring for deposits exceeding 5,000,000 gold-equivalent ounces with potential to produce approximately 500,000 ounces per annum.
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