China Nonferrous Gold Business Update
December 01 2017 - 2:46AM
UK Regulatory
TIDMCNG
1 December 2017
China Nonferrous Gold Limited ??????????
("CNG" or the "Company")
Business Update
China Nonferrous Gold Limited ?????????? (AIM: CNG), the mineral
exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to provide the
following update.
Operational Update
Following the avalanches and landslides earlier in the year CNG
has continued to focus on restoring production alongside
constructing and repairing infrastructure. The Company is pleased
to confirm that significant progress has been made in recent
months.
Drainage and dredging has been completed and work to reconstruct
some of the damaged tunnels is ongoing. Temporary residences and
other living facilities have been constructed with the foundations
also poured for a permanent camp at the Pakrut mine. Good progress
has been made on the tailings pond and backfill station.
Procurement for the tailings pond materials has been completed and
equipment for the backfill station is expected to be shipped to the
Pakrut mine site in early 2018. In addition, work on the
ventilation system commenced in November and is ongoing and the
repair of the damaged workshops is well progressed.
It is also expected that a permanent solution to restore
external power supply will be achieved by the end of the year. Four
new towers have been set up, of which three have been installed and
the remaining one is ongoing.
As a result of the ongoing works and above noted progress the
Company expects to resume production during the first half of
2018.
Board Update
As noted in the Company's interim results for the period ended
30 June the Company has been in the process of recruiting new
independent non-executive directors. Good progress has been made in
the process and the Company expects to update shareholders in the
near future.
For further information please visit the Company's website
(www.cnfgold.com) or contact:
China Nonferrous Gold Limited
Yu Lixian, Managing Director
Tel: +86 10 8442 6681
Investec Bank Plc
Jeremy Ellis, George Price
Tel: +44 (0)20 7597 5970
Beaufort Securities Limited
Jon Belliss
Tel: +44 (0)20 7382 8300
Blytheweigh
Tim Blythe, Camilla Horsfall
Tel: +44 (0)20 7138 3224
LEI: 213800N6OF4LUDO7WD52
2.2. Inside information
View source version on businesswire.com:
http://www.businesswire.com/news/home/20171130006345/en/
This information is provided by Business Wire
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