Sino Gold Limited

Sino Gold Limited is a $1.3 billion Australian gold miner headquartered in Sydney. The company is engaged in the recovery of gold and the development and exploitation of mining properties. The gold producer is primarily engaged in the development of mining sites in China. In 2008, the company realized a net loss of $67 million. The shares of Sino Gold are listed under the symbol SGX at the Australian Securities Exchange and under 1862 at the Stock Exchange of Hong Kong. The company is a mid-tier gold producer.

Sino Gold was incorporated in 1995 under the name Sino Mining International Limited. The company name changed to Sino Gold Limited in 2002. The gold producer started its first operation at the Jianchaling Mine in the Chinese Shaanxi Province. The first mining property had a total gold reserve of 0.45 million ounces of gold. In 2003, the company acquired its second gold property: the White Mountain Project. Development has boosted the site reserve to more than 1 million ounces of gold and increased the mine life to 10 years. Furthermore, Sino Gold commenced construction work at the Jinfeng Project in 2005. This site contains the largest carlin deposit in China. Further expansion will increase the production capacity to 0.3 million ounces per year. In 2007, the company acquired the Beyinar deposit in Mongolia, containing 1.2 million ounces of gold.

Sino Gold operates two mines and explores various mining locations in China. Situated in the Guizhou Province, the Jinfeng site contains a processing plant and open pit which produce 0.15 million ounces. The property contains a gold reserve of 5.3 million ounces. In the Jilin Province, the White Mountain site produces 0.065 million ounces of gold. The Eastern Dragon Project takes place in the Heilonhjiang Province. The site has a probable reserve of 0.8 million ounces of gold and 4.4 million ounces of silver. The property will contain a processing plant, underground operation, and open pit producing a total of 0.09 million ounces of gold. Sino Gold has explored several sites in the Shandong Province. The company has opted to discontinue exploration in 2009.

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