Last checked at 28 Sep 2020 14:28
China Nonferrous Gold Limited
(“CNG” or the “Company”)
Board Changes
China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the mineral exploration and mining company currently mining the Pakrut gold project in the Republic of Tajikistan, announces that Mr. Liang has tendered his resignation as Chairman of the Company to pursue other business interests. That resignation has immediate effect today.
At the same time, Mr. Yu Lixian has been appointed Chairman of the Company with immediate effect. Mr. Yu was previously Managing Director of the Company.
To ensure ongoing and effective corporate governance of the Company, it is agreed that Mr. Yong Li, a current Non-Executive Director of the Company, is appointed as the Senior Independent Director with immediate effect.
Finally, it is agreed that Mr. Hui Zhang, be appointed as Managing Director of the Company with immediate effect.
Mr. Zhang, is a senior engineer by trade and has worked as engineer in a number of positions since 1998. He currently serves as the Managing Director of China Nonferrous Metals International Mining Co., Limited.
A list of Mr. Zhang’s current directorships together with those held within the last five years is set out below:
Current Directorships
China Non-Ferrous Metals International Mining Co. Limited
Previous Directorships
None
Mr. Zhang (aged 50) does not own any shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
For further information please visit the Company’s website (www.cnfgold.com) or contact:
China Nonferrous Gold Limited
Yu Lixian, Chairman
Tel: +86 10 8442 6681
WH Ireland Limited (NOMAD & Broker)
Katy Mitchell, James Sinclair-Ford
Tel: 0207 220 1666
Blytheweigh (PR)
Tim Blythe, Camilla Horsfall
Tel: +44 (0)20 7138 3224
Project Summary
The Pakrut gold project, of which CNG has 100 per cent ownership, is situated in Tajikistan approximately 120km northeast of the capital city Dushanbe. Pakrut is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and Western China, and which hosts a number of multi-million Ounce gold deposits.
CNG is currently in a commissioning phase with mining contractors on site finalising constructing of the mine, plant, tailings dam and refinery.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a member of the Commonwealth of Independent States and the Shanghai Cooperation Organisation. Tajikistan hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. CNG's management team has extensive experience in the mining industry in Tajikistan.
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