On December 30, Gelonghui reported that CHINAGOLDINTL (02099.HK) released preliminary production results for the entire year of 2024 and an overview of the long-term development plan for the Jiamah mine. According to the company's production situation up to December 29, 2024, the Jiamah mine's output in 2024 will exceed the annual production guidance disclosed on March 28, 2024, while the Changshanhao gold mine ('Changshanhao mine') will meet the annual production guidance disclosed on March 28, 2024: Jiamah mine: Copper output is about 102 million pounds (approximately 0.0463 million tons), Gold output is about 53,370 ounces (approximately 1.66 tons); Changshanhao mine: Gold output is about 107,737 ounces (approximately 3.35 tons).

The company will provide the production guidance for 2025 at the appropriate time. However, the company wishes to provide the latest updates on the operation situation of the Jiamah mine. In 2024, the company successfully restored stable production at the Jiamah mine. At the same time, the company is continuously optimizing the comprehensive utilization plan of Jiamah mine resources, integrating the proven underground high-grade resources, and accelerating the exploration progress of potential new resources. The long-term development plan for the Jiamah mine is divided into three phases:

Before the completion of the new tailings storage facility ('Youlongbu Tailings Storage'), the second phase concentrator of the Jiamah mine will maintain its current processing capacity of 0.034 million tons/day to ensure consistency with the storage capacity of the Guolangou tailings storage (Note: The first phase concentrator of the Jiamah mine ceased operation in May 2024).

The Youlongbu tailings storage facility will start operations in 2027, at which point the capacity of the Jiamah mine will be further increased. In the next two years, as part of the underground resource integration plan, the Jiamah mine will apply for an increase in the recorded capacity of the mining license, subject to safety permits. Currently, the recorded capacity of the mining license for the Jiamah mine is 14.4 million tons/year (approximately 0.044 million tons/day, calculated based on 330 days). If the government approves the increase in recorded capacity, after the Youlongbu tailings storage facility becomes operational, the ore processing volume of the Jiamah mine will be able to recover to 0.05 million tons/day, consistent with the design processing capacity of the concentrator. While making these efforts, the Jiamah mine will also strive to restore production levels to those prior to the tailings overflow by reasonably allocating the proportion of high-grade underground ore.

The company is also committed to exploring new resources around the Jiamah mining area. The company continues to actively carry out geological exploration work in the Bayi Ranch and Zegulang North exploration areas, both of which have shown substantial resource potential. The company will disclose the latest exploration progress and results in a timely manner. Also, based on the final exploration results and feasibility conclusions for resource development, a corresponding overall expansion plan for the Jiamah mining area will be developed. This research work is currently in the preliminary stages.