China Gold International Resources Corp. Ltd Announces Revenue and Production Results for the Fourth Quarter and Year 2016; Provides Production Guidance for the Year 2017
For the year, the company reported revenue remained constant at USD 338.6 million from USD 339.9 million for the same period in 2015. Mine operating earnings decreased by 11% to USD 56.2 million from USD 62.8 million for the same period in 2015. Gold production from the CSH Mine decreased by 9% to 185,052 ounces from 204,471 ounces for the same period in 2015. Copper production from the Jiama Mine increased by 6% to 18,321 tonnes (approximately 40.4 million pounds) from 17,284 tonnes (approximately 38.1 million pounds) for the same period in 2015.
For the year 2017, the company expected copper production for the company is expected to be approximately 79 million pounds. The 2017 gold production for the CSH Mine is expected to be approximately 193,000 ounces. The company's consolidated gold production from both mines will be 218,700 ounces.