Gold Ore Acquisition Group Gold

December 25, Gold (600489). SH) issued a notice that the company's private issue of shares in the relevant bills have been approved by the Board of Directors.　　The proposed price of not less than 27.35 yuan/share in the private issue of not more than 150 million shares, raise funds not more than 2.8 billion yuan. Among them, some of the funds invested in Anhui Taiping Mining Co., Ltd. former copper and iron ore reconstruction project, to further improve the production capacity of copper and iron ore; some of the funds are used to acquire a 60% per cent stake in the Song County Taurus Limited (hereinafter referred to as Song County Taurus) holdings of China Gold Group, the takeover controlling shareholder,　　Hebei East Beam Gold Mining Limited liability Company (hereinafter referred to as Hebei East Beam) 100% of the equity and Dexing Jinshan Mining Co., Ltd. (hereinafter called Dechenkin) 76% of the equity. Song County Taurus Main gold mining, metallurgy and election, the current daily production capacity of about 1200 tons. Hebei East Beam main gold ore mining and heap leaching, has not yet begun the formal production.　　Dechenkin main gold mining and smelting, the current daily processing capacity of about 2000 tons.　　According to the evaluation report, three companies have 105.65 tons of gold reserves (including low-grade resources), the acquisition will enable the company's gold industry assets and geographical scope of further expansion, to consolidate the company as a domestic gold mining and selection, smelting leading enterprises status. Oriental Securities said that over the past three years, the company through the internal acquisition of group assets to increase reserves, external search for opportunities to buy outside the yellow gold mine.　　After the completion of the acquisition, the company's gold reserves have a greater increase in the annual gold increase of more than 3.5 tons, iron concentrate production will increase significantly, will greatly enhance the profitability of enterprises. CICC believes the company is relatively inexpensive to buy the deal. The company's purchase price of the above three companies is tentatively 1.4 billion yuan, according to the gold rights and interests of 47.59 tons, the cost of the acquisition is 138 USD/oz.　　Comparing this year, the cost per unit cost of gold mining, Ruijin mining, and Shandong Gold is $149/ounce, and the company's acquisition costs are relatively cheap and beneficial to the company and its shareholders. As gold prices rose sharply this year and the company's output gradually increased, CICC gold this year, the performance of rapid growth.　　Earnings showed that 2010 years ago three quarter, gold to achieve operating income of 16.582 billion yuan, the growth of 36.14%, net profit of 781 million yuan, the year-on-year increase of 116.94%. Company holding shareholder Gold Group, whether gold reserves or production scale in the domestic gold production enterprises have an absolute advantage.　　Gold Group has formulated a master plan for resource injection, promising to inject the gold-related assets into the listed companies gradually to realize the overall listing of the group's gold main business. December 24, gold closed at 38.59 yuan, down 2.11%.