China Nonferrous Gold Limited reported unaudited consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported loss attributable to owners of the company of $3,362,000 or 0.88 cents per basic and diluted share compared to loss attributable to owners of the company of $12,398,000 or 3.24 cents per basic and diluted share reported in the same period last year. Operating loss was $3,363,000 against $12,351,000 reported last year. Loss before tax was $3,362,000 against $12,398,000 reported last year. Net cash out flows from operating activities was $5,287,000 against $744,000 reported last year. Payments for mining rights and construction in progress was $23,010,000 against $8,548,000 reported last year.

In 2019, the Pakrut gold mine is expected to achieve an annual production of 660,000 tons and produce 1.3 tons of gold per annum.

Subsequently, the company will fully increase its production capacity, and strive to double its capacity by 2021. While increasing the production, the company is as making every effort to research and refine the selection and improvement process of the Pakrut gold project by continuously reducing production costs, increasing recovery rates and improving its overall competitiveness. After completing the infrastructure projects, expected in the fourth quarter of 2018, the Pakrut gold mine is expected to enter full production and capacity will gradually reach 2,000 tons per day.