China Gold International Resources (TSE:CGG) has released an update.
China Gold International Resources Corp. Ltd. experienced a significant drop in its first quarter earnings of 2024, with revenue plunging 76% to US$60.5 million, a stark contrast to the US$252.8 million from the previous year. The company also reported a net loss of US$26.0 million and a decrease in gold and copper production, mainly due to the suspension of the Jiama Mine operations and lower production rates at the CSH Mine. The full resumption of the Jiama Mine is anticipated by the end of May 2024, following expected government approvals.
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