China Gold International Gold Resources Declared Q3 2023 Results

SEATTLE (Scrap Monster): China Gold International Resources Corp. Ltd. announced financial and operational results for the three months and nine months ended 30th September, 2023.

During Q3 this year, the company’s total gold production registered significant decline by 40% to 33,110 ounces, compared with 54,734 ounces in the corresponding quarter a year before. It reported nil copper production, as a result of halt in operations at the Jiama Mine during the quarter. It must be noted that copper production had totalled approximately 21,254 tonnes in Q3 2022, said the company press release.

The revenue reported sharp decline by 76% from US$255.0 million to US$62.3 million. The company reported mine operating loss of US$14.3 million, compared with mine operating earnings of US$75.7 million for the same period in 2022. China Gold International Resources reported net loss of US$30.8 million, upon comparison with net income of US$23.4 million in Q3 last year.

The gold production totalled 122,463 ounces during the initial nine-month period in 2023, down by 32% from 178,844 ounces a year before. The total copper production declined from 64,532 tonnes in Jan-Sep ‘22 to 19,967 tonnes in the first nine months of 2023.

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