招金黄金接待17家机构调研，包括淡水泉基金、广发基金、太保资产、易方达基金等

Core Viewpoint - The company is actively engaging in research and development of its mining projects, particularly focusing on the Vatu Kola gold mine, which is expected to be the primary revenue source in the coming years, while also exploring potential mergers and acquisitions both domestically and internationally [1][2][8]. Group 1: Vatu Kola Gold Mine - The drainage work at the Vatu Kola gold mine has been largely completed, and the company is now working on restoring the mining face [1][3]. - The mine has approximately 18 million tons of tailings with a grade of about 1-1.5 grams per ton and a recovery rate of around 40% [1][10]. - The mine's gold products are primarily sold to an Australian refinery, with pricing based on the market price of gold on the day of shipment [1][12]. - The mine's sales revenue is projected to account for over 95% of the company's total revenue in 2024 [1][13]. Group 2: Exploration and Development - The North Island Kaxishan exploration project is set to begin geological exploration this year, with an estimated 2-3 years required to complete pre-production work, subject to approval processes [1][3][4]. - The Tibet Zhongjin project is currently in the geological survey stage, with further work planned based on survey results [1][6]. Group 3: Mergers and Acquisitions Strategy - The company is focusing on acquiring mining projects outside of the existing areas of the Zhajing Group in China and is prioritizing regions in Africa, Central Asia, and South America that maintain good relations with China [1][4]. - The preferred acquisition targets are projects that are either in production or nearing production, as they are more attractive and easier to finance [1][4]. Group 4: Operational Challenges and Risk Management - The company is addressing the disparity between the selected grade (approximately 3 grams per ton) and the geological resource grade (approximately 7 grams per ton) by improving mining methods and linking employee salaries to ore grades [2][9]. - The company has not engaged in hedging against currency risks, instead managing risks through coordinated procurement and sales in the same currency [2][7]. Group 5: Corporate Governance and Investor Relations - The company aims to deliver stable performance and adhere to sound governance practices to actively reward investors, reflecting its intrinsic value within the Zhajing Group [2][8]. - As of now, the company has not received any information regarding the integration of gold-related assets from the Zhajing Group [2][8].