Overview

Jinshan Gold Mines is the only Canadian listed gold companies that has successfully obtained a Mining Permit from the Bureau of Lands and Resources in Beijing for a new mine. An entrepreneurial management group and experienced operations team has been established to elevate the company from explorer to commercial miner status. Construction of the mine has been on-going during 2006 to meet the company's target of commercial gold production starting second quarter 2007. The project is capable of producing an average of approximately 117,000 ounces per year at an average cash cost of $253 per ounce. The gold resource is estimated to be 2.9 million ounces of Measured and Indicated with an additional 0.5 million ounces of inferred. Once the mine starts production, it estimated to be the 4th largest gold mine in China. Jinshan has three main offices in China and is headquartered in Vancouver, Canada. The company is very active on several other exploration projects in China. Many senior companies are starting to view China (the 4th largest global producer of gold) as the next prospective frontier to make major discoveries. With an operating mine, Jinshan is strategically positioned in China to benefit from the prolific exploration and development opportunities to build a significant gold company.

Financials (In millions of USD)

 

Income Statement

Quarterly
(Sep '06)

Annual
(2005)

Annual
(2004)
Total Revenue

0.00

0.00

0.00
Operating Income

-2.00

-6.35

-5.58
Net Income

-2.02

-6.21

-5.45
Balance Sheet

Total Current Assets

7.96

16.20

6.78
Total Assets

23.04

17.12

7.00
Total Current Liabilities

1.82

1.21

0.74
Total Liabilities

1.82

1.21

0.74
Total Equity

21.21

15.91

6.26
Cash Flow

Net Income/Starting Line

-2.02

-6.21

-5.45
Cash from Operating

-1.84

-3.31

-4.11
Cash from Investing

-6.68

-0.66

-0.17
Cash from Financing

9.05

15.36

0.29
Net Change in Cash

0.52

11.38

-3.87

                                                                           Source:  Google Finance

 

Key Elements

  • Ivanhoe Mines holds a signficant stake in the company
  • JIN is planning to bring a mine into commercial production this year
  • Other exploration projects on the way
  • 26 million in cash
  • Feasibility Study prepared by KD Engineering of Tucson (company has an extensive list of clients)

Charts

 

3 Month Chart

 

1 Year Chart

 

5 Year Chart

                                                                       Source:  BigCharts.com

News

              Source:  Yahoo Finance