Xinjiang Discovers 40 Billion Gold Mines Hong Kong Merchants Lurk for Two Years

The Xinjiang Geological and Mineral Bureau issued the news of the discovery of a super-large gold mine in Wuqia County, Xinjiang, which caused market concern. "Daily Economic News" was informed by the Xinjiang Geological and Mineral Bureau that the gold mine had submitted 127 tons of gold reserves as of June this year, and its potential economic value was over 40 billion yuan. It is the largest gold mine discovered in Xinjiang. The domestic gold giants such as Shandong Zhaojin Group, China National Gold Group Corporation, and Zijin Mining expressed their intentions for cooperation and development.

In this regard, an executive from Zijin Mining stated that it has not heard this issue at the company meeting. The insider of the above-mentioned gold mineral rights person Xinjiang Gegeno Minerals Co., Ltd. (herein referred to as homologous mining) stated that at present it has not had any substantial cooperation with any gold company, but it does not rule out the introduction of external investors to participate in the development in the future.

Although the government publicized the gold mine for 20 years of continuous exploration, a Hong Kong company named “Alex Investment Co., Ltd.” successfully “sneaked in” in 2012 and cooperated with the Xinjiang Geological and Mineral Bureau to establish a homogenous mining cooperation. Has a controlling interest in a homogenous mining industry. This Hong Kong company is a mystery. The natural person named Chen Yuhui is quite legendary. He has two listed companies in Hong Kong and Canada and serves as senior executives and is well versed in the operation of mining capital.

40 billion gold mines favored

In recent years, the Xinjiang Regional Bureau of Geology and Mineral Resources has successively submitted two ultra-large gold deposits with a gold metal resource amounting to over 50 tons in the Katbaasu Gold Mine in Xinjiang Xinyuan County and the Dunde Iron-Zinc Gold Polymetallic Deposit in Hejing County. Since 2014, Xinjiang has seen frequent news of large-scale gold mines.

News from the Daily Economic News reporter from the News Center of the Xinjiang Geological Survey showed that in 1993, the second geological team of the Xinjiang Geological and Mineral Bureau discovered gold deposits in the Wuwacha County, China, and along the Kyrgyzstan border in Savayalton. After 20 years of continuous exploration, 21 gold mineralization zones with an average grade of 2.45 g/t have been discovered within a survey area of ​​20 square kilometers ranging from 3100 to 4300 meters above sea level. 127 tons of gold resources have been submitted and 200 Yuan of prospective resources have been stored. More than tons.

The No. 4 metallogenic belt has a width of 85 meters, a length of 4,000 meters, an average grade of 2.57 grams/ton, a local highest grade of 63.88 grams/ton, and an estimated gold metal quantity of 98.33 tons. At present, the No. 4 Geological Brigade of the Xinjiang Geological and Mineral Bureau focused on exploration of the No. 4 mineralization zone. A total of 11 gold-bearing mineralization belts were discovered. The average thickness of the ore body is 25 meters, and the amount of resources accounts for more than 98%.

According to Cui Hongbin, the captain of the Second Geological Brigade of the Xinjiang Geological and Mineral Bureau, the potential economic value of the mine is estimated to be more than 40 billion yuan. According to the plan, to build a mining enterprise with an annual output of 1 ton, the annual output value will exceed 300 million yuan, which can provide 200 to 300 jobs for the local people.

According to the "Xinjiang Economic News" quoted Cui Hongbin as saying that if the further exploration of the Sawayaton gold mine, do not rule out more renewed discovery, long-term reserves will reach 200 tons. The Xinjiang Geology and Minerals Bureau stated that the huge resource potential of the Savaaltonian Gold Mine in 2008 has attracted Hong Kong Weifu Mining and the Xinjiang Geological and Mineral Bureau for exploration. After the exploration of the submitted gold mineral resources amounted to 100 tons, many domestic gold Giant companies have expressed their intention of cooperation and development.

Mysterious Hong Kong business lurks

"Daily Economic News" reporter found that a quite mysterious Hong Kong company has mastered the control of the gold mine.

The reporter learned from the Xinjiang Geological and Mineral Bureau that the gold mineral rights are owned by the homologous mining company. The company is jointly established by the Xinjiang Geological and Mineral Bureau's two companies and Xinjiang Weifu Mining Co., Ltd., of which Xinjiang Weifu Mining Co., Ltd. owns 70 % equity. The reporter discovered from the business information system that the company is a wholly-owned subsidiary of Hong Kong Alex Investment Co., Ltd.

According to the business information of Alex Investment Co., Ltd., the company’s shareholder is an offshore offshore company with a share capital of 10,000 Hong Kong dollars. The director of the company is Chen Yanhui, a natural person who owns a Hong Kong identity card. The legal representative of Xinjiang Weifu Mining Co., Ltd. is also Chen Yihui. Chen also directly served as a director of the homologous mining company.

In fact, Chen Yuhui’s mining capital operation has a good history. At the end of 2008, Xinxin Mining (03833, HK) invested 542 million yuan to acquire the largest copper and nickel mining companies in the Hami region - Yax Resources Development Co., Ltd. and Hami Jubao Resources Development Co., Ltd. Alex Investment Co., Ltd. was one of the major shareholders of the above-mentioned acquired company.

Not only that, Chen Yuhui is the main shareholder and executive director of Tianshi Software (08028, HK). According to the introduction of the 2013 annual report of Tianshi Software, Chen Yuhui has 30 years of experience in metal trading, and also serves as GobiMinLnc, a Canadian listed company. (GMN.V)'s board of directors**, president and chief executive officer, is mainly engaged in gold exploration in Xinjiang.

Although the Xinjiang Geological and Mineral Bureau stated that Weifu Mining had cooperated with it in 2008, the reporter found out in the official publication of the Bureau’s official website that the “Exclusive Survey of Prospecting Rights and Interests Agreements in the Sawayaton Gold Mine” disclosed that in March 2012, The mining industry acquired the mineral rights from Xinjiang Margaris Mining Co., Ltd. at an agreed price of RMB 0. Xinjiang Margarism Mining Co., Ltd. is a joint venture between the Xinjiang Geological and Mineral Bureau and a Canadian listed gold mining company, MAJESTIC GOLD CORP (MJS.V).

Regarding the transfer of this embarrassment, an insider of a homologous mining company told reporters that the amount of exploration work for that company had not been done that much before. At that time, the company did not expect such a big discovery when it acquired the mineral rights, but it was definitely paying for it. The price. EIA data shows that the homogenous mining industry is undertaking a 450t/d gold ore mining and technological transformation project.