China Gold International Resources has been added to the S&P/TSX Composite Index and has also been added to the Hang Seng Composite Index, as well as its sub-indexes, Hang Seng Industry Index and Hang Seng Composite Size Index.
The S&P/TSX Composite Index is an index of the stock (equity) prices of the largest companies on the Toronto Stock Exchange (TSX) as measured by market capitalization. The TSX-listed companies in this index comprise about 70% of market capitalization for all Canadian-based companies listed on the TSX.
China Gold International is the overseas flagship company of China National Gold Group Corporation. The company owns and operates the CSH Gold Mine and the Jiama Copper Pollymetallic Mine in China, and has an exclusive mandate to develop the mining business of the China Gold Group internationally. The company is dual-listed on the TSX Exchange and the Hong Kong Stock Exchange .
China Gold International's chairman Sun Zhaoxue says, “The S&P/TSX Composite Index is an important equity benchmark index in the capital markets. The addition of China Gold International to this index reflects the outstanding growth of the company and opens China Gold International to a whole new audience of potential shareholders.”
This boost for the company follows the earlier addition to the Hang Seng Composite Index, which is a comprehensive development market benchmark that covers about 90% of the total market capitalization of companies listed on the Main Board of the HKSE.
During the recent Prospectors and Developers Association of Canada (PDAC) mining conference in Toronto China's Deputy Minister of Ministry of Land and Resources Mr Wang met with the company and during a presentation also affirmed the achievements of Chinese mining companies.
Deputy Minister Wang acknowledged the growing international presence and success of Chinese mining enterprises affirming also the Green Mine concept, singling out China Gold International in particular in this regard.
Meanwhile, the company has appointed Derrick Zhang as interim chief financial officer. He has more than 18 years of experience in financial reporting for public companies including experience leading financial reporting for mergers and acquisitions, and has served as the company's controller since January 2010.
Derrick Zhang has experience working in mine planning, as a design and construction engineer in China and is bilingual in English and Mandarin.
China Gold International's CEO Xin Song says, “Mr Zhang's experience leading financial reporting for mergers and acquisitions will be an asset as the company pursues its strategy to acquire additional gold and non-ferrous mineral resources.”