Hunan Gold, which has a 4-day limit: There is a great difficulty in the development of gold resources below 1500 meters due to the current mining process of the company.
Golden Ten data, November 26th, Hunan Gold announced an abnormal announcement, once again explaining the relevant information in the report of 'Hunan Pingjiang discovered more than 40 gold veins: the far-sighted reserves exceed 1,000 tons, with an estimated value of 600 billion yuan': The 'predicted gold reserves above 3,000 meters underground' in the report is based on the previous year's scientific research deep hole mining situation combined with the distribution of proven resources in the upper part to speculate on the far-sighted resource volume (including the cumulative gold resources of 300.2 tons in the core mining area); The 'estimated value of 600 billion yuan calculated based on the current gold price' in the report is the overall potential resource value of the deposit calculated based on the recent gold price and the estimated far-sighted resources, including the consumed resources from mining and the speculated far-sighted resources in the deep part. The actual economic benefits that can be obtained from the subsequent development of the deposit still need to be further evaluated: First, most of the 'far-sighted gold reserves exceeding 1,000 tons' mentioned in the report are speculated far-sighted resources, and there is still significant uncertainty whether they can be discovered in the future. Second, the cooperative development project of Pingjiang County's gold mineral resources is currently being cultivated by Hunan Gold Group Co., Ltd., the controlling shareholder of the company, and the company has the priority right to purchase under the same conditions. Even if the company chooses to acquire the project, considering the acquisition cost, construction cost, and mining cost, the increase in earnings per share of the company will be limited. Third, due to the current mining process of the company, there are great difficulties in the development of gold resources below 1,500 meters in depth. Fourth, as the depth of the mine increases, the difficulty and cost of mining will increase accordingly, and the actual available resources may be different from the recorded mineral resource reserves, and the economic benefits of mining may not meet expectations.
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Hunan Gold, which has a 4-day limit: There is a great difficulty in the development of gold resources below 1500 meters due to the current mining process of the company.
Golden Ten data, November 26th, Hunan Gold announced an abnormal announcement, once again explaining the relevant information in the report of 'Hunan Pingjiang discovered more than 40 gold veins: the far-sighted reserves exceed 1,000 tons, with an estimated value of 600 billion yuan': The 'predicted gold reserves above 3,000 meters underground' in the report is based on the previous year's scientific research deep hole mining situation combined with the distribution of proven resources in the upper part to speculate on the far-sighted resource volume (including the cumulative gold resources of 300.2 tons in the core mining area); The 'estimated value of 600 billion yuan calculated based on the current gold price' in the report is the overall potential resource value of the deposit calculated based on the recent gold price and the estimated far-sighted resources, including the consumed resources from mining and the speculated far-sighted resources in the deep part. The actual economic benefits that can be obtained from the subsequent development of the deposit still need to be further evaluated: First, most of the 'far-sighted gold reserves exceeding 1,000 tons' mentioned in the report are speculated far-sighted resources, and there is still significant uncertainty whether they can be discovered in the future. Second, the cooperative development project of Pingjiang County's gold mineral resources is currently being cultivated by Hunan Gold Group Co., Ltd., the controlling shareholder of the company, and the company has the priority right to purchase under the same conditions. Even if the company chooses to acquire the project, considering the acquisition cost, construction cost, and mining cost, the increase in earnings per share of the company will be limited. Third, due to the current mining process of the company, there are great difficulties in the development of gold resources below 1,500 meters in depth. Fourth, as the depth of the mine increases, the difficulty and cost of mining will increase accordingly, and the actual available resources may be different from the recorded mineral resource reserves, and the economic benefits of mining may not meet expectations.