Minco Gold Corporation operates as an exploration-stage company that engages in exploration and evaluation of gold-dominant mineral properties and projects in China. As of December 31, 2015, the company owned a 18.45% (December 31, 2014–18.45%) equity interest in Minco Silver Corporation (Minco Silver), which is accounted for as a significantly influenced investment in an associate. In May 2015, the company entered into the share purchase agreement (the SPA) with Minco Silver and Minco Silver’s wholly-owned subsidiary, Minco Resources Limited (Minco Resources). Pursuant to the SPA, the company sold all of its shares in Minco Resources, which holds Minco China. Minco China owns certain subsidiaries, including Yuanling Minco Mining Ltd. (Yuanling Minco), Tibet Minco Mining Co. Ltd. (Tibet Minco), Huanihua Tiancheng Mining Ltd. (Huanihua Tiancheng), legal ownership of Foshan Minco Mining Co. Ltd. (Foshan Minco) and a 51% interest in Guangzhou Mingzhong Mining Co., Ltd. (Mingzhong), which owns the Changkeng Gold Project. Properties Longnan Properties The Longnan project is the first component of the Retained Assets. The properties are located at the southern part of Gansu province. The focus of the company's activities has been the exploration of its projects in the Longnan region, in particular the Yejiaba Project. Minco China, its former wholly-owned subsidiary, held nine exploration permits in the Longnan region in the south of Gansu Province in China. The Longnan region consists of three projects according to their geographic distribution, type and potential of mineralization within the southwest Qinling gold field. Yejiaba: Includes four exploration permits along a regional structural belt parallel to the Yangshan gold belt. There is potential in this area for polymetallic mineralization (gold-silver-iron-lead-zinc). Yangshan: Includes four exploration permits located in the northeast extension of the Yangshan gold belt and its adjacent area. The primary potential in this area is for gold. Xicheng East: Includes one exploration permit for the east extension of the Xicheng Pb-Zn mineralization belt. There is potential in this area for polymetallic mineralization (gold-silver-lead-zinc). Mineral interests Minco Silver has a 90% interest in Foshan Minco, the operating company and permit holder for the Fuwan project. The Exploration Permit for the Fuwan project is the Luoke-Jilinggang exploration permit, which expires in July 2017. The Mining Area Permit which defines the mining limits of the Fuwan Silver Deposit and restricts the use of this land to mining activities expires on April 2016. Fuwan Silver Belt In 2005, the company acquired three additional silver exploration permits on the Fuwan belt, referred to as the Guanhuatang Property, the Hecun Property and the Guyegang-Sanyatang Property. The company decided not to renew the Guanhuatang property permit, which expired April 2014. The Guyegang-Sanyatang permit expires in March 2017. The company has submitted the renewal application for the Hecun permit that was originally set to expire in April 2014. The renewal applications are being processed by the Ministry of Land and Resources. Changkeng Project During the year, the company announced that it had completed the acquisition of Minco Gold’s 51% interest in the Changkeng Gold Project, which is held by Mingzhong. The Changkeng Project immediately adjoins the Fuwan Silver Deposit. History The company was founded in 1982. It was incorporated under the Business Corporations Act (British Columbia) in 1982. The company was formerly known as Caprock Energy Ltd. and changed its name to Minco Gold Corporation in 2007.
minco gold corp (MMM:Toronto)
1055 West Georgia Street
PO Box 11176
Vancouver, BC V6E 3R5
The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content.
|No competitor information is available for MMM.|
|View Industry Companies|
Sponsored Financial Commentaries
To contact MINCO GOLD CORP, please visit www.mincomining.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.