Reports 2021 Year-End Results, Provides 2022 Outlook, and Declares Dividend
China Gold International
Resources Corp. Ltd.
__________________________________________________________________
Tel: +1-604-609-0598 Fax: +1 -604-688-0598 E -mail: [email protected], www.chinagoldintl.com
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International Resources Corp. Ltd.
Reports 2021 Year-End Results, Provides 2022 Outlook, and Declares Dividend
VANCOUVER, March 30, 2022 - China Gold International Resources Corp. Ltd. (TSX:
CGG; HKEx: 2099) (“China Gold International Resources” or the “Company”) is
pleased to report 2021 Year-End Results, provide 2022 Outlook and declare Dividend.
For detailed information, please read the Company’s Financial Statements and MD&A for
the year ended December 31, 2021 which are available on SEDAR ’s website at
www.sedar.com, The Stock Exchange of Hong Kong Limited’s website at
www.hkex.com.hk, the Company's website at www.chinagoldintl.com, or call the
Company at +1-604-609-0598 and email to [email protected].
FINANCIAL, PRODUCTION AND OPERATION HIGHLIGHTS
2021 FOURTH QUARTER
• Revenue increased by 17% to US$312.0 million from US$265.8 million for the same
period in 2020.
• Mine operating earnings increased by 24% to US$111.8 million from US$90.1 million
for the same period in 2020.
• Net income increase d by 4% to US$58.8 million from US$56.4 million for the same
period in 2020.
• Total gold production increased by 5% to 62, 278 ounces from 59,177 ounces for the
same period in 2020.
• Total copper production decreased by 6% to 47.1 million pounds (21,387 tonnes) from
50.1 million pounds (22,742 tonnes) for the same period in 2020.
2021 ANNUAL
• Revenue increased by 32% to US$1,137.4 million from US$864.0 million for the same
period in 2020.
• Mine operating earnings increased by 93% to US$404.1 million from US$209.9 million
for the same period in 2020.
• Net income increased by 136% to US$268.7 million from US$113.9 million for the same
period in 2020.
• Total gold production increased b y 1.4% to 244,312 ounces from 240,848 ounces for
the same period in 2020.
• Total copper production increased by 5% to 190.5 million pounds (86,400 tonnes) from
180.9 million pounds (82,059 tonnes) for the same period in 2020.
China Gold International
Resources Corp. Ltd.
__________________________________________________________________
Tel: +1-604-609-0598 Fax: +1 -604-688-0598 E -mail: [email protected], www.chinagoldintl.com
Suite 660, One Bentall Centre
505 Burrard Street
Vancouver, BC
Canada V7X 1M4
SPECIAL DIVIDEND
In connection with the Company’s financial results for the year ended 31 December 2021,
the Company is pleased to announce the declaration of a special dividend of US$ 0.25
per common share payable on June 15, 2022 to shareholders of record as of April 20,
2022. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes
while dividends paid to shareholders outside Canada (non -resident investors) will be
subject to Canadian non -resident withholding taxes. If you are a non -resident taxpayer
resident in a country or area that Canada has a tax treaty with, you may be eligible to
receive the reduced rate of tax for the dividend you will be receiving. Please review the
NR301 Form to check if you are eligible and if so, submit the aforementione d form to
ensure the benefit from the tax treaty is applied to you.
2022 PRODUCTION AND OPERATION OUTLOOK
• The anticipated gold production will be between 241,130 ounces (7.5 tonnes) and
250,775 ounces (7.8 tonnes).
• Total copper production is estimated to be between 187 million pounds (85,000 tonnes)
and 198 million pounds (90,000 tonnes).
• The Company continues to focus its efforts on optimizing the operation at both mines,
stabilizing the Jiama Mine’s production and potentially extending the mine life of the
CSH Mine.
• The Company has not experienced any significant impact on its operations by the
COVID-19 pandemic. Both of the Company’s mines have been able to operate and sell
products without significant interruption during the year ended December 31, 2021. The
Company continues to closely monitor the health of its employees and supply chains
to be able to respond to any potential disruptions, should any arise. The Company is
also managing its cash reserves to be able to withstand any finan cial ramifications of
potential disruptions.
The Company’s Chairman and CEO, Mr. Liangyou Jiang, stated, “ 2021 is an important
year for the Company to enter a new stage of operations, achieving an important
milestone in the history of the Company with record revenue and net profit. We continue
to enhance the value of the Company. 2021 is also a year of hope for the Company to lay
a solid foundation for high-quality development in the future. We will continue to endeavor
seizing internal and external opportunities, promoting the development of new resources
and the construction of new project, injecting impetus into the realization of our long-term
goals. We are confident in aiming towards higher goals and in creating value for our
shareholders”
China Gold International
Resources Corp. Ltd.
__________________________________________________________________
Tel: +1-604-609-0598 Fax: +1 -604-688-0598 E -mail: [email protected], www.chinagoldintl.com
Suite 660, One Bentall Centre
505 Burrard Street
Vancouver, BC
Canada V7X 1M4
About China Gold International Resources
China Gold International Resources is a gold and base metal mining company
incorporated in BC, Canada and operates two mines, the CSH Gold Mine in Inner
Mongolia, China and the Jiama Copper -Gold Polymetallic Mine in Tibet, Chi na. The
Company’s objective is to build shareholder value through growing production at its
current mining operations, expanding its resource base, and acquiring and developing
new projects internationally. The Company is listed on the Toronto Stock Exchange (TSX:
CGG) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
For further information on the Company, please refer to SEDAR’s website at
www.sedar.com, The Stock Exchange of Hong Kong Limited’s website at
www.hkex.com.hk, the Co mpany's website at www.chinagoldintl.com, or call the
Company at +1-604-609-0598 and email to [email protected].
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-
looking statements within the meaning of applicable securities laws. Forward -looking statements may
include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that
are not statements of fact. A lthough China Gold International Resources believes that the expectations
reflected in such forward -looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. China Gold International Resources cauti ons that actual
performance will be affected by a number of factors, most of which are beyond its control, and that future
events and results may vary substantially from what China Gold International Resources currently foresees.
Factors that could cause actual results to differ materially from those in forward-looking statements include
market prices, exploitation and exploration results, continued availability of capital and financing and
general economic, market or business conditions. The forward -looking statements are expressly qualified
in their entirety by this cautionary statement. The information contained herein is stated as of the current
date and subject to change after that date.