Monday, November 30, 2020
 
Columnist
Martin Hennecke
 
WANGUO MINING
HKEx Stock Code : 03939 
 
Corporate Profile
Principally engaged in the business of mining, ore processing and sale of the concentrates products in the PRC.

Business Review - For the year ended December 31, 2012

Our Group is principally engaged in the business of mining, ore processing and sale of concentrates products in the PRC.

Currently, we, through our wholly-owned subsidiaries, own the entire equity interest in Yifeng Wanguo which in turn owns the Xinzhuang Mine in which we conduct underground mining. The Xinzhuang Mine has substantial volume of non-ferrous polymetallic mineral resources. Products of our Group primarily include copper concentrates, iron concentrates, zinc concentrates, sulfur concentrates as well as by-products of gold and silver.

EXPANSION IN EXISTING MINE

We continued to develop the Xinzhuang Mine during the year. We had reached 450,000 tpa in both mining capacity and processing capacity by the end of 2012 from 300,000 tpa in 2011.

EXPANSION IN SURROUNDING AREAS

According to the Independent Technical Expert's Report in the Prospectus, there are significant additional defined mineral resources outside the planned mining area in the Xinzhuang Mine within the boundary covered by the current mining licence held by the Group. On 20 November 2012, Yifeng Wanguo entered into an exploration agreement (the “Exploration Agreement”) with the Bureau of Geology and Mineral Exploration of Jiangxi Province (江西省地質礦產勘查開發局) (the “Jiangxi Geology Bureau”).

Business Outlook - For the year ended December 31, 2012

EXPANSION IN EXISTING MINE

We plan to undergo an expansion plan for our mining and ore processing facilities, as disclosed in the prospectus of our Company dated 28 June 2012 (the “Prospectus”), by which, when completed, both of the mining capacity and processing capacity are expected to reach 600,000 tpa by the end of 2014. According to the Independent Technical Expert's Report in the Prospectus, the reserves at the Xinzhuang Mine were estimated to be sufficient for production at the planned long term production rate of 600,000 tpa for approximately 31 years.

EXPANSION IN SURROUNDING AREAS

The Board believes that the engagement of Jiangxi Geology Bureau for the exploration work at the Xinzhuang Mine will potentially increase the Group's mineral resources and allow the Group to apply for an increase in its mining capacity set forth in its mining license, thereby enhancing the competitiveness of the Group in the future with the increased capacities and annual total production volume.

Source: Wanguo Int'l Mining (03939) Annual Results Announcement
Chairman Gao Mingqing Issued Capital (shares) 600M
Par Value HKD 0.1 Market Capitalisation (HKD) 2,178M
 
Login
Password
Register  Forget Password
Advanced Search
© 2020 The Standard, The Standard Newspapers Publishing Ltd.
Home | Business | Metro | Focus | Opinion | Markets | World | Sports | Entertainment | Monday Money | Property | Macau | Weekend