China Gold expects firm production in 2022 after beating 2021 forecast

“We have succeeded in overcoming adverse factors, such as the COVID-19 pandemic, carefully organizing production, and continuously improving the quality of operations,” miner chief executive officer Liangyou Jiang said on Jan. 19.

Consolidated gold production from the company’s two mines was approximately 244,345 ounces last year, which exceeded guidance by 4%, and consolidated copper production of approximately 191 million pounds was ahead 7% on the outlook.

The 2021 guidance was maintained throughout the year.

For 2022, China Gold provided gold and copper guidance of between 241,130 and 250,775 ounces and 187 and 198 million pounds, respectively. Midpoints of 245,952.5 oz and 192.50 Mlb are approximately 1% above preliminary 2021 volumes.

The two mines of China Gold are the CSH gold mine in the Inner Mongolia region and the Jiama polymetallic copper mine in the Tibet region. They began commercial production in 2007 and 2010, respectively.

China Gold was trading at C$3.57/share on the Toronto Stock Exchange as of Jan. 20, up from C$3.3/share a week earlier. The company is also listed on the Hong Kong Stock Exchange.

China Gold plans to publish its 2021 annual financial statements by the end of March.