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Jinshan Announces Reserves Increased by 51% and Measured and Indicated Resources Increased to 4.99 Million Ounces at Its CSH 217 Gold Mine, China
VANCOUVER, BRITISH COLUMBIA, Mar 4, 2010 (Marketwire via COMTEX) -- Jinshan Gold Mines Inc. (TSX:JIN) is pleased to announce results of a new National Instrument 43-101 compliant reserve and resource estimate at its CSH 217 gold mine in Inner Mongolia, China. Compared to the reserves reported in March 2008, the total proven and probable mineable gold reserves at the CSH 217 mine as of the end of December 2009 have increased to 3.43 million ounces (including 433,000 mined out ounces) from 2.26 million ounces in the March 2008 ITR. This represents a 51% increase over the previous March 2008 ITR. In addition, project Pre-Income Tax Net Present Value (NPV) increased from US$87 million in the March 2008 ITR to US$517 million.
"The 2008 drilling campaign that we enacted after the March 2008 ITR and the 2009 onsite column leach test program has greatly increased our confidence in the CSH 217 project. The total reserves increased over 51% compared with the March 2008 ITR," said Xin Song, Jinshan's new CEO. "The growth of the number of ounces of gold controlled by the Company at CSH will allow the Company to grow organically. With the strong support from our major shareholder China National Gold Group, the Company is well positioned to expand on a healthy growth profile."
Mineral Reserves
An updated mine plan for the CSH Gold Project has been developed by Nilsson Mine Services (NMS) of Vancouver, British Columbia, Canada. This plan has been prepared for heap leaching with a crushing plant throughput rate of 30,000 tonnes per day, with full capacity expected by the end of the first quarter of 2010.
Mineral reserves have been reported for the final pit designs at a positive net value cutoff that corresponds to a gold grade cutoff of approximately 0.3 grams per tonne gold as scheduled in the mine plan. The proven and probable reserves at CSH mine as of December 31, 2009 stand at approximately 138 million tonnes of ore with an average grade of 0.67 g/t gold, representing approximately 3.0 million ounces of contained gold. In the previous March 2008 ITR, the company reported 99 million tonnes of reserves at an average grade of 0.71 g/t gold, consisting of 35 million tonnes of proven reserves averaging 0.74g/t gold and 64 million tonnes of probable reserves averaging 0.69 g/t gold at 0.28 g/t gold cut-off grade. The new reserves are summarized in the table below:
CSH 217 Reserves by category, Northeast and Southwest pits combined December 2009
Jinshan Enters Into Memorandum of Understanding to Develop Gold Business With Monnis International Inc.
VANCOUVER, BRITISH COLUMBIA, Dec 31, 2009 (MARKETWIRE via COMTEX) -- Jinshan Gold Mines Inc. (TSX: JIN) is pleased to announce that it has entered into a memorandum of understanding with Monnis International Inc. to jointly explore and develop gold projects in Mongolia. Monnis International Inc. was established in 1998 as an official distributor of one of the world's leading car manufacturers, Nissan Motor Co., Ltd in Mongolia. The company has now expanded its activities and has gained particular position in the fields of geology, mining, energy, construction, international freight forwarding, foreign trade, automotive service, communication, banking, and air industry, with over 600 employees. Jinshan and Monnis shall have 51% and 49% equity interest, respectively, in the acquired projects. Jinshan will control and manage the acquired projects. Jinshan believes its partnership with Monnis will allow Jinshan to build and grow strong business in Mongolia.
About Jinshan
Jinshan is a mining company whose principal property is the CSH Gold Mine. Jinshan began producing gold at the CSH Gold Mine in July 2007 and is actively advancing its portfolio of gold exploration properties in China. Jinshan's shares are listed on the TSX under the symbol "JIN".
Please visit our website at: www.jinshanmines.com.
This could be a monster!
JINFF was mentioned favorably in "Uncommon Wisdom" article
....."One of the companies in my Red-Hot Global Small-Caps portfolio, Jinshan Mining (JIN on the Toronto Stock Exchange, JINFF on the pink sheets in the U.S.), is caught up in this. Jinshan's major shareholder is China National Gold Group. China National is going to use Jinshan as a vehicle to acquire gold mining projects outside of China, either developed projects or assets that are already in operation...."
I think it's big, bullish news for Jinshan. Do your own due diligence before you buy anything. But it goes to show that the Chinese think gold is cheap at current prices, and they have their sites set much higher.
http://www.uncommonwisdomdaily.com/gold%e2%80%99s-china-syndrome-8267
I wonder if Jinshan has a deal where they have to sell some (or most) of their gold to the Chinese government at much reduced prices...?
Since China is a buyer of their own production, what effect does that have on this stock and the production?
Anybody?
Up +10% today... nice turnaround.
The rules are the rules...
TOU (simple rules)
http://investorshub.advfn.com/boards/terms.asp
TOU (detailed rules)
http://investorshub.advfn.com/boards/complex_terms.asp
I don't see the correlation.
With China's announcement last week for more bank reserves and slowing loans, this stock has fallen out of bed. (I've fallen and I can't get up).
Hey, staying on topic is good, but with the very limited posting on this board, did you really have to step on everybody's neck?
Resulted in ZERO posts... I assume that was NOT your intention...
Give the guys a little space, eh?
Let us stay focussed and on topic with Jinshan only according to i-Hub's TOU's... Thanks in advance...
Thanks,
It was between MQCMF, JNRRF, or NOMNF I chose NOMNF. I think I will get the other two anyway. Love the JINFF. Reading alot about the Chinese investing in many JV's.
You are very welcome.
I don't see Jinshan as a scam, but I don't like this correction on heavy volume either... But, it has had a very good run, and with gold down, maybe it is just a normal thing here...
The story still plays, unless there is something working we can't see... and I hope that is not the case.
As in all things, bet the $$$, take the ride. I think it will work itself out.
Great lookin' chart here.
Certainly atypical Pink.
Gold mines, China and Pinksheet stocks (I realize it trades on the TSE also) do not normally make great bed-fellows, so?
Scam?
Any strange happenings from this 'strange' Pinky?
TIA :)
Looks like a solid correction, absent any news that is probably a good thing...
Thanks for the look at KATX... in my simplistic way of looking at things... I can see the company scrounging up, say, 2,500 oz of gold at all of the properties... in 2010... sell price of, say, $700/oz after expenses... is $1,750,000 divided by 275 million shares is .00636/share, and with a PE of 10... PPS should be .06+
Sounds reasonable, yes? So my buy price of .019 looks pretty good...
likethesun, There are so many Gold stocks that look good it is very hard to chose. I have made a decision on JINFF as on of the best. Also have NXG,VGZ,CGR,SVM ,KATX and that is only to name a few. With the Chinease Gov. backed Gold and Silver shares you have one leg up in that they get the good projects, permitting is not a problem and you can get financing aid to run the project if required.
Yes... IMO. It is really just back to where I bought months back!
Man, I had that in my watch list too
coulda, shoulda, woulda. Still have legs?
NOMNF is another one that is a sleeper
Too funny... I read both those blogs daily!
No problemo! Have to help each other out, right?
Another nice day today, but I guess that is natural with Au spiking...
I do LOTS of reading, someone mentioned RVMIF as a situation that got tangled, now it is smoothing out... and they have lots of stuff in the ground.
I recommend Jim Sinclair and Harvey Organ for everyday reading... I am expecting a big year... the massive dollar printing and bond issuance is coming home to roost... I am playing TMV for a coming spike in the long bond... and the gold/silver price suppression may end soon... I hope!
Nice day for ANV and TRGD too... better to play this game than to hold cash, yes?
This looks so strong - nice pick-up.
Picked up a core position of 5k here today.
OT - MQCMF
Anyone end up getting any?
Agreed. Thanks for the heads up on RVMIF. Whats the deal with that one?
Thanks for joining us... thanks for the reco... looks quite positive.
Hi, Guys,
Been in awhile, since around $1.00
This stock was just teased as part of a pitch to purchase a newsletter, discussed at Stockgumshoe.com
I don't care for the 100% return tease (from here) but I DO think this on still has big time legs long term... China is very serious about building their gold reserves and it looks like much of the China projects are going to be developed thru this company...
I wouldn't sell a share.
Of course, if our gov keeps stepping on the chinese toes, maybe they will pull the plug... I doubt it.
Luck to all! RVMIF worth a nibble too!
Jinshan Enters Into Memorandum of Understanding to Develop Gold Business With Monnis International Inc.
.Companies:Jinshan Gold Mines Com Npv.Press Release Source: Jinshan Gold Mines Inc. On Thursday December 31, 2009, 9:30 am EST
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/31/09) - Jinshan Gold Mines Inc. (TSX:JIN - News) is pleased to announce that it has entered into a memorandum of understanding with Monnis International Inc. to jointly explore and develop gold projects in Mongolia. Monnis International Inc. was established in 1998 as an official distributor of one of the world's leading car manufacturers, Nissan Motor Co., Ltd in Mongolia. The company has now expanded its activities and has gained particular position in the fields of geology, mining, energy, construction, international freight forwarding, foreign trade, automotive service, communication, banking, and air industry, with over 600 employees. Jinshan and Monnis shall have 51% and 49% equity interest, respectively, in the acquired projects. Jinshan will control and manage the acquired projects. Jinshan believes its partnership with Monnis will allow Jinshan to build and grow strong business in Mongolia.
About Jinshan
Jinshan is a mining company whose principal property is the CSH Gold Mine. Jinshan began producing gold at the CSH Gold Mine in July 2007 and is actively advancing its portfolio of gold exploration properties in China. Jinshan's shares are listed on the TSX under the symbol "JIN".
Please visit our website at: www.jinshanmines.com.
Forward-Looking Statements: Statements in this release that are forward-looking statements, including the approval of the name change and potential completion of definitive agreements covering the MOUs, are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's MD&A, financial statements and other periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Jinshan does not assume the obligation to update any forward-looking statement, except in accordance with applicable securities laws.
Contact:
Contacts:Jinshan Gold Mines Inc.Frank Lagiglia+1.604.695.5032info@jinshanmines.comwww.jinshanmines.com
All the best to you... thanks for coming and leaving a note.
Just got turned on to jinff. Will look to take a position soon.
Sure wish they would get rid of the Terex Haul Trucks and get some good ones like Caterpillar.
JINFF will do very good in 2010. It has the blessing of the Chinease Gov. which means the best pick of projects, no problems with permitting, cheap labor and plenty of extra capitol if required. I also own SVM.
I think you are right, I got out last week and looking to get back in soon. I don't think the correction will last long, but you never know. I think the dollar will head back down considerably by April.
Looks like we are in a correction/consolidation period.
I just took a position a few days ago. More long term than I usually play but like the Chinese aspect.
I was in Vancouver Precious metals convention (i think it was called the summit) beginning of last year. It went by JIN.TO ticker symbol. I was busy playing with SLW silver wheaton all year and forgot all about it. I do have their company brochure still. This looks promising especially with China booming and boosting their gold, I am looking to getting in and take position at some point.
Did you get in then? Which convention are you referring to? Share price is definitely on the rise here.
Woah! the last time I was at the gold convention, Jinshan was only at 30 cents. How did it get up to close to $3? That's crazy!
Thanks! Good things coming IMO.
I'm pleased you found this gem... we got a big tiger by the tail... thanks for taking the time to post... please boardmark us. I gave you Member/Person Mark #7 for posting... GL!
No worries.
Excellent, thanks bro
OT:
MQCMF.PK
Man, that one looks good too.
NBRI is in the same sector and should continue to climb. It's about .05 now.
I will be buying MSQ if I can find out how. Does it trade in the US market?
Definitly one of my favorite. Also MSQ.TO - doesn't seem like any one knows that one either?????
Yep, this is a goodnern. Pretty unknown to the average investor.
Strange that the pinkssheet trades more than the CN stock! This thing is a power house.
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China Gold International Resources Corp Ltd is a TSX listed mining company trading under the symbol CGG that is focused on gold production and acquisitions. The company began producing gold at the CSH Mine in July 2007 and is seeking to increase its reserve base through further exploration efforts. China Gold International Resources Corp Ltd is actively advancing its portfolio of gold exploration properties and other non-ferrous metals on a global scale. China Gold International Resources Corp Ltd growth strategy involves looking for strategic acquisitions, exploiting options to evaluate and acquire international projects in China National Gold's international project pipeline, potential partnerships with other senior and junior mining companies, willing to look at various types of acquisition structures, discovering new resources through our exploration rights and selectively acquiring additional large scale minerals assets in various regions, and expanding gold resources at current CSH mine. China Gold International Resources Corp Ltd relationship with China National Gold has served to support China Gold International Resources Corp Ltd to act as China National Gold's international vehicle. China Gold International Resources Corp Ltd leverages China National Gold's engineering, operating, and financing capabilities globally. China National Gold, a Chinese state owned enterprise and the largest gold producer in China owns approximately 39.3% of China Gold International Resources Corp Ltd outstanding shares and continues to demonstrate its commitment to China Gold International Resources Corp Ltd.
China Gold International Resources Corp Ltd is a TSX listed mining company trading under the symbol CGG that is focused on gold production and acquisitions. The company began producing gold at the CSH Mine in July 2007 and is seeking to increase its reserve base through further exploration efforts. China Gold International Resources Corp Ltd is actively advancing its portfolio of gold exploration properties and other non-ferrous metals on a global scale. China Gold International Resources Corp Ltd growth strategy involves looking for strategic acquisitions, exploiting options to evaluate and acquire international projects in China National Gold's international project pipeline, potential partnerships with other senior and junior mining companies, willing to look at various types of acquisition structures, discovering new resources through our exploration rights and selectively acquiring additional large scale minerals assets in various regions, and expanding gold resources at current CSH mine. China Gold International Resources Corp Ltd relationship with China National Gold has served to support China Gold International Resources Corp Ltd to act as China National Gold's international vehicle. China Gold International Resources Corp Ltd leverages China National Gold's engineering, operating, and financing capabilities globally. China National Gold, a Chinese state owned enterprise and the largest gold producer in China owns approximately 39.3% of China Gold International Resources Corp Ltd outstanding shares and continues to demonstrate its commitment to China Gold International Resources Corp Ltd.
http://www.jinshanmines.com/s/Management.asp
http://www.jinshanmines.com/s/Directors.asp
http://www.jinshanmines.com/s/FinancialStatements.asp
http://www.jinshanmines.com/s/CorporateDirectory.asp
We have a Code of Business Conduct and Ethics applicable to all employees, officers, directors and contract employees regardless of their position in our organization, at all times and everywhere we do business. The Code provides that our employees, officers, directors and contract employees will uphold our commitment to a culture of honesty, integrity and accountability and that we require the highest standards of professional and ethical conduct from our employees, officers, directors and contract employees.
To view a PDF of China Gold International Resources Corp. Ltd. Code of Business Conduct and Ethics, click here.
China Gold International Resources Corp. Ltd. Ethics Point
http://www.jinshanmines.com/s/News.asp
http://www.jinshanmines.com/s/ChangShanHao.asp
The Chang Shan Hao Gold Mine is one of China's largest gold mines operated by a foreign company, placing Jinshan in an important leadership role. The gold mine is the first step in Jinshan's growth strategy to becoming a significant gold producer in Asia.
As of April 30, 2008, gold production at the CSH mine has totalled 36,746 ounces. It is expected that the mine will achieve nameplate production capacity of approximately 10,000 ounces per month (120,000 ounces per year) in 2008. During mine start-up and through the first winter of operation, leaching and gold production has been slowed by normal start-up conditions and colder than average temperatures. In future years, the volume of ore on the leach pad will be substantially increased and it is expected that solution temperature, volume and preg grade, will be easier to maintain, resulting in improved performance.
Based on the 2007 drilling, gold resources are now estimated at 3.92 million ounces measured and indicated and 1.3 million inferred.
http://www.jinshanmines.com/s/DadiangouProject.asp
http://www.jinshanmines.com/s/ContactUs.asp
http://www.jinshanmines.com/s/QwikReport.asp
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