Tanjin Mining (00621) announced that the Group's main business is investment holding, mineral trading and exploration, development and development...
According to Zhitong Finance App, Tanjin Mining (00621) announced that the Group's main business is investment holding, mineral trading, and exploration, development and mining of gold mines and related minerals located in South Africa. Despite the suspension of trading of the company's shares, the Group's operations continued as usual in all major aspects.
As disclosed in the second quarterly update, the expert team and other professionals (including South African mining experts and financial advisors) are reviewing and revising the Jeanette project's mining plan and continuing to expedite updates to the feasibility study to prepare and implement mining asset valuation and impairment assessments and further work by the auditors. The company initially estimates that the expert team's findings and evaluation results will be ready in or around March 2024. The full year and interim results can then be published around mid-April 2024, while the annual report and interim report can be sent around May 2024.
However, the board of directors hopes to update the company's shareholders and potential investors on the latest situation. Since South African mining experts are implementing the mining plan and cash flow forecast update for the Jeanette project, the expert team's investigation and evaluation results need to be delayed. As a result, publication of full-year and interim results and delivery of annual and interim reports will be further delayed accordingly.
Based on the latest discussions with the expert team and other professionals, and depending on their work schedule and auditors' review, the company initially anticipates that the expert team's findings and evaluation results will be ready by early April 2024. The full year and interim results can then be published around the end of April 2024, while the annual report and interim report can be sent around May 2024.
The company has always done its best to assist relevant professionals in completing the audit process. The company will make further announcements in due course to keep shareholders and potential investors aware of the latest developments in the resumption of trading and other significant developments. Trading of the company's shares continues to be suspended.