News Bureau

China Gold revenue up by 46% in 9M 2018

Gold production tumbles at China Gold Q3

Gold production of CSH Mine falls by 28% 

China Gold books loss yet Q3 revenue up by 61%

China Gold International Resources reports on the Company’s financial and operational results for the three Q3 2018 and nine months ended September 30, 2018. According to the report, revenue increased by 61% to US$158.8 million from US$98.5 million for the same period in 2017. Yet, Net profit after income taxes decreased from US$17.4 million for the 2017 period to a loss of US$4.6 million in 2018, mainly driven by foreign exchange loss of US$11.0 million.

Gold production from the CSH Mine had decreased by 28% to 33,468 ounces from 46,621 ounces for the same period in 9M 2017. On the other hand, revenue increased by 46% to US$407.6 million from US$278.6 million for the same period in 9M 2017. Mine operating earnings increased by 9% to US$77.4 million from US$71.1 million for the same period in 9M 2017. Net profit after income taxes decreased from US$44.4 million for the 2017 period to a loss of US$2.2 million in 2018.

Gold production from the CSH Mine had decreased by 19% to 103,390 ounces from 126,959 ounces for the same period in 9M 2017.

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