Lingbao Gold Group Company Ltd. ("Lingbao Gold" or the "Company" and together with its subsidiaries, the "Group") is listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 12 January 2006.
The Group is an integrated gold mining enterprise in the People's Republic of China ("PRC"), and is mainly engaged in gold mining, smelting and refining. The products of the Group are gold, silver, copper products and sulphuric acid. The Shanghai Gold Exchange certified the Group as a standard gold bullion production enterprise. The Group's mineral resources are scattered in the PRC regions of Henan, Xinjiang, Jiangxi, Inner Mongolia, Gansu and Kyrgyz Republic ("KR") with 33 mining and exploration rights with a total area of 293 sq. km. The total gold reserve and resources as at 31 December 2019 were approximately 41.16 tonnes (approximately 1,451,876 ounce) and 96.45 tonnes (approximately 3,402,174 ounce) respectively. The gold reserve and resources report is prepared in accordance with PRC GB/T17766-1999, "Solid Mineral Resources/Reserves Classification", GB/T13908-2002 "General Requirements for Solid Mineral Geological Exploration" and DZ/T0205-2002 "Geological Exploration Requirements for Hard-Rock Gold". In 2019, approximately 16,519 kg (approximately 531,098 ounce) of gold was produced, and the Company recorded a loss for the year from continuing business operations of RMB251,841,000.
The objective of the Group's strategy in the future is continuous expansion, to become the leading integrated gold mining enterprise in the PRC and gradually promote our brand in the international market. The Group will focus on the exploration and expansion of production scale and continue to acquire gold resources with potential.
updated as per Annual Report 2019
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