20th Jun 2018 07:00
20 June 2018
China Nonferrous Gold Limited(“CNG” or the “Company”)
Contract for the First-Stage Mining Project of the Pakrut Gold Mine
China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, is pleased to announce that the company’s subsidiary, LLC Pakrut, has signed a contract for the first-stage mining project with Wenjian Limited Liability Company ("LLC Wenjian").
LLC Wenjian is a private corporation registered in Tajikistan, focused on construction, developing and contracting in Tajikistan, and is not a related party of CNG. The total contract period agreed is 12 months. The contract can be extended by mutual consent and most of the mining operations are effectively undertaken by the contractor with their own equipment.
The total estimated cost of the contract is 50 million RMB (approximately USD$ 7.56 million) and is a tolling arrangement which is payable in accordance with each stage of construction accomplished by the contractor under the contract. The main scope of the first-stage project includes developing, prospecting and mining (except paste filling) of the Pakrut Gold Mine, as well as all auxiliary work.
For further information please visit the Company’s website (www.cnfgold.com) or contact:
China Nonferrous Gold LimitedYu Lixian, Managing DirectorTel: +86 10 8442 6681
Investec Bank PlcJeremy Ellis, Alexander RuffmanTel: +44 (0)20 7597 5970
BlytheweighTim Blythe, Camilla HorsfallTel: +44 (0)20 7138 3224
View source version on businesswire.com: https://www.businesswire.com/news/home/20180619006553/en/
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