Yintai Rescourcesis devoted to the exploration, mining, dressing and sales of nonferrous and rare metals, and investment in mineral resources. Currently, Yintai Resources (000975.SZ) holds an Ag-polymetallic mine with the largest reserve and highest monomer silver grade in China. Yintai Resources will make more effort in resources exploration and acquisition utilizing its own mining and exploration rights, and consolidate existing resources, expand project investment channels and nonferrous metals variety, and initiate diverse forms of cooperation projects to achieve stable and progressive development, and try best to become a listed domestic resources company with significant influence.
Yintai Resources (000975.SZ) founded Shanghai Shengwei Mining Investment Co., Ltd. jointly with its major shareholders and social capital providers in March 2016, which acquired the main gold assets of Eldorado Gold Corporation and finished delivery on November 22. Mines involved are Dong’an Gold Mine of Heilongjiang Heihe Luoke Mining Company, Jinying Gold Mine of Jilin Banmiaozi Mining Company and Tanjianshan Gold Mine of Qinghai Dachaidan Mining Company, specifically including 4 mining rights and 9 exploration rights with rich gold reserves and of higher grades. Currently, Yintai Resources (000975.SZ) is acquiring these gold assets from Shanghai Shengwei through share issuance and assets purchase. The Company will hold 100% shares of Shanghai Shengwei after the acquisition, and will:
After the acquisition, Yintai Resources (000975.SZ) will transform its main business into gold exploitation and take this as an opportunity to enter a new development stage.
- Own a large amount of high-grade gold assets and resource reserves, further strengthen its competitiveness and risk-preventing ability, and enhance the status of Yintai Resources in non-ferrous metal industry;
- Greatly enlarge its asset size, improve the financial structure and profitability, and create better returns for all shareholders;
- Acquire internationally advanced mining technology and management experience, managerial mode and talent teams of international expertise, and provide a solid foundation for its sustainable development.
High-grade gold assets and abundant resource reserves
Dong’an Gold Mine of Heihe Luoke Mining represents the best quality of its kind in China so far with silver associated, and is now exploited both in opencast and underground. Dong’an Gold Mine went into operation and produced gold in Xunke County on September 29, 2017.
Jinying Gold Mine of Jilin Banmiaozi Mining is high in grade, rich in reserve and greatly explored, guaranteeing sustainable and stable production in future. Underground ramps are used for exploitation and transportation. This mine is a modern international leader, especially pioneering the industry in terms of safety and environmental friendliness.
Tanjianshan Gold Mine of Qinghai Dachaidan Mining has good mining conditions and strong resource base, accompanied with extensive prospecting rights and bright prospect of reserve increasing. Multiple mining methods will be combined in future production. Tanjianshan Gold Mine, being a provincial green mine, places special attentions on safety and environmental friendliness.
Silver-polymetallic ore with largest reserves and highest monomeric silver grade
Inner Mongolia Yulong Mining is located within the Greater Khingan nonferrous metal metallogenic belt in the northeast of Inner Mongolia. The mine is rather concentrated with abundant ore resources and higher grade in silver, lead, and zinc ores. With the largest domestic silver yield (silver content) in a single mine, annual silver output reaches about 150 tons. Lead-zinc concentrate fine ore yield classifies it as a large-scale mine. These features make Yulong one of the listed mining companies with highest gross profit rate in China.