Shandong Gold 167 million yuan holdings in gold mine

Shandong Gold (600547) bulletin, the company intends to acquire its own funds to buy Qingdao Xin Lai Mining Investment Co.　　The transaction amount is 166.6 million yuan. Shandong Gold said after the equity acquisition, the company obtained the control status of gold development in Laixi region of Shandong Province, in order to accelerate the development of the regional resources to create conditions; At the same time, the company increased the resources reserves, improve the business layout; the average grade of the resources in Xin Lai Mining can reduce the production cost of gold　　Enhance the profit potential of Shandong Gold. Xin Lai Mining in October 2006 by the Shandong Gold and Qingdao Bao-Hua jointly established by cash, Shandong Gold in cash capital of 51 million yuan to hold 51% capital contributions.　　Xin Lai Mining now has 4.79 square kilometers of mineral resources exploration right, the exploration area to delineate 4 orebody, accumulated exploration of the intrinsic economic resources of 1641012t, gold metal 7584kg, average gold grade 4.62 grams/ton. In addition, the Xin Lai mining industry also owns the Northwest Park, Mountain 7 square kilometers with armed police seven detachment cooperation exploration results mining rights of 48%, the exploration area to delineate 7 ore bodies, the estimated intrinsic economic resources 1876519t, Gold metal volume 6753kg, average gold grade 3.60 grams/ton.