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China Goldmines looking at new investment opportunities

25 November 2009

China Goldmines finished the year to June 30 with US$6.2 million in cash and US$28.5 million in assets. The company sold its main assets to Westralian Resources in September and is now preparing to set out a new investing strategy under AIM rules.

China Goldmines was behind work at the Guanzhuang gold project in the Hunan province of China. The company abruptly closed down the operation after a prolonged period of raids and disturbances ended with more than 50 robbers attacking the plant and stealing five tons of high grade ore.

Clive Donner, the company’s non-executive chairman, said it was now well placed to add significant shareholder value through investments in other companies and/or projects.

Industry Sector

Mining

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China Goldmines plc

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