① He Xiaoqing, vice chairman and general manager of CICC Gold, said that the future growth in the company's performance will mainly come from: controlling shareholders' commitment to high-quality asset injection, mergers and acquisitions of gold resources through market mergers and acquisitions, increased prospecting and storage in and around existing mining areas, and domestic mineral rights integration. ② He Xiaoqing said that it is expected that international gold prices will show a moderate upward trend in the fourth quarter, and he is cautiously optimistic about the market prices of the company's main products.
Financial News Agency, November 7 (Reporter Leung Heung-cai)Gold companies benefited from rising gold prices, and the performance of CICC Gold (600489.SH) in the first three quarters increased by more than 30%. At the performance briefing held today, he Xiaoqing, vice chairman and general manager of CICC Gold, said that the future growth of the company's performance will mainly come from: the company's controlling shareholders promise to inject high-quality assets, acquire gold resources through market mergers and acquisitions, increase in exploration and storage in and around existing mining areas, and integration of domestic mining rights.
In recent years, CICC Gold has been making frequent moves in terms of asset injection. According to public information, the company completed the injection work of Xihe Mining, a subsidiary of China Gold Group, in 2022, and acquired 39% of Inner Mongolia's shares in Jintao in the first quarter of 2023.
In July of this year, CICC Gold completed another major acquisition, completing the delivery of 100% of Laizhou CICC's shares held by China Gold Group, the controlling shareholder. The total price of the transaction was 4.86 billion yuan. According to reports, Laizhou Zhongjin holds 44% of the shares in Laizhou Huijin, and Laizhou Huijin holds mining rights in the Shaling Gold Mine. The mine has gold resource reserves of 372.06 tons and an average grade of 2.77 g/ton, making it one of the top ten gold mines in the country; the production scale is 3.96 million tons/year, the second phase is 1.98 million tons/year, and the production service period is 14.5 years, the second phase is 13.68 years, for a total of 28.18 years.
Li Yueqing, director of CICC Gold and secretary of the board of directors, said at the meeting that at present, all four kilometer shafts at the Shaling Gold Mine have been completed, and the surface project has started smoothly, and is expected to be put into operation by the end of 2025.
Debon Securities mentioned in its August research report that by the end of 2022, there were 34 CICC Gold's own mines. In terms of resource reserves, the amount of gold and metal was 507.3 tons. The company plans to inject a total of 17 enterprises in one category. It is incubated by China Gold Group and will start the injection process within 12 months after meeting the relevant conditions.
It is worth mentioning that when some investors asked about the company's views on future gold prices, He Xiaoqing said, “It is expected that international gold prices will show a moderate upward trend in the fourth quarter, and we are cautiously optimistic about the market prices of the company's main products.”
It should be noted that since this year, domestic and foreign gold prices have continued to rise to new highs, and the amount of mineral gold produced by CICC Gold in the first three quarters did not increase but fell. According to the company's three-quarter report, mineral gold production in the first three quarters was 13.91 tons, a year-on-year decrease of 6.64%.
When some investors asked the above questions, Li Yueqing said that the company's mining gold production declined year-on-year in the first three quarters, mainly affected by the policy shutdown of enterprises in some regions in the first half of the year.