VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (“China Gold International Resources” or the “Company”) is providing a voluntary business update in relation to the Company’s production and operations and the Novel Coronavirus (the “COVID-19”).
The Company’s Jiama mine has been operating with little to no impact on its production or operations thus far. The Jiama mine regularly monitors the health of its employees and its supply chains and is prepared to respond to any potential disruption issues, should any arise.
The employees of CSH Mine have returned to the mine site following the scheduled Chinese New Year celebration closure. CSH Mine normally experiences lower recovery rates during the first quarter of every year impacted by the harsh winter conditions and as such, performance in the first quarter of the year is usually lower as compared with other quarters in the year. The Company expects the recovery rate to normalize during the balance of 2020. The CSH mine has had little to no impact on its production or operations compared to previous years due to the COVID-19 thus far.
The Company is reminding all individuals to take care of their health and to adhere to safety procedures while conducting business operations.
The Company’s chief executive officer, Liangyou Jiang, said, “Although there currently are no employees infected at the Company’s two mines, we will be ready to respond to the possible impact COVID-19 may have on any aspects of our business and will closely monitor the health condition of our employees."
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) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
For further information on the Company, please refer to its SEDAR profile at www.sedar.com or: Telephone: 604-609-0598, Email: info@chinagoldintl.com,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.