登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000975证券简称：山金国际 公告编号：2025-056 山金国际黄金股份有限公司 第九届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 山金国际黄金股份有限公司（以下简称"公司"）第九届董事会第十八次会议通知于2025年12月5日以电 子邮件及专人递交的方式向全体董事送达，公司全体董事以通讯方式进行了表决，公司于2025年12月8 日（含当日）前收到全体董事的表决结果。会议由公司董事长刘钦先生主持，应出席董事9人，实际出 席董事9人。 本次会议的召开和表决程序符合《中华人民共和国公司法》和《山金国际黄金股份有限公司章程》（以 下简称"《公司章程》"）等法律、法规的有关规定。经与会董事认真审议，以记名投票表决的方式通过 了如下决议： 一、以9票同意，0票反对，0票弃权，审议通过了关于续聘2025年度审计机构的议案； 本议案已经审计委员会审议通过。 详见同日披露于《中国证券报》《证券时报》《上海证券报》《证券日报》及巨潮资讯网的《关于拟续 聘会计师事务所的公告》。 二、以7 ...

Summary of the Conference Call on Coeur's Acquisition of New Gold Industry and Company Involved - **Industry**: Precious Metals Mining - **Companies**: Coeur Mining (NYSE: CDE) and New Gold (NYSEAM: NGD) Core Points and Arguments 1. **Transaction Overview**: Coeur announced the acquisition of New Gold, creating the only all-North American senior precious metals mining company with a combined market capitalization of $20 billion [4][11][22] 2. **Financial Projections**: The combined company is expected to achieve approximately $3 billion in EBITDA and $2 billion in free cash flow by 2026, leading to a sector-leading free cash flow yield [4][15] 3. **Production Estimates**: The merger will result in an expected production of around 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper in the next year [5][15] 4. **Shareholder Benefits**: New Gold shareholders will receive a 16% premium on their shares, with the transaction expected to be accretive across all key metrics [11][22] 5. **Operational Synergies**: The combination is seen as a way to enhance operational efficiency and unlock value through shared resources and expertise, particularly in exploration and production [19][55] 6. **Market Positioning**: The new entity will be one of the top 10 largest precious metals companies globally and a top five silver producer, with over 80% of revenue coming from U.S. and Canadian operations [4][5][6] 7. **Cultural Fit**: Both companies emphasize the importance of cultural alignment and shared values, which are expected to facilitate a smooth integration process [3][8][20] Additional Important Content 1. **Regulatory Approval**: The transaction is subject to customary deal protections and requires shareholder approval, with meetings expected in Q1 2026 [11][12] 2. **Exploration Potential**: The acquisition will allow for increased investment in exploration, particularly at New Afton and Rainy River, which are seen as key growth areas [12][19] 3. **Debt Management**: Coeur plans to maintain a flexible capital structure, focusing on high-return opportunities while managing existing debt [52][53] 4. **Future Growth**: The combined company is positioned to be more resilient and opportunistic in low-price environments, with a strong balance sheet and cash flow generation capabilities [18][22] 5. **Community Engagement**: Coeur emphasizes its commitment to responsible stewardship and maintaining strong relationships with local communities and stakeholders [20][21] This summary encapsulates the key points discussed during the conference call regarding the acquisition of New Gold by Coeur Mining, highlighting the strategic rationale, financial implications, and operational synergies expected from the merger.

格隆汇10月27日丨四川黄金公告，第三季度净利润1.6亿元，同比增长184.38%；前三季度净利润3.7亿 元，同比增长87.36%。净利变动主要系本期黄金市场价格上涨所致。 ...

Core Viewpoint - The acquisition of 100% equity in Xinjiang Meisheng Mining Co., Ltd. by Western Gold Co., Ltd. for 1.655 billion yuan has attracted significant market attention due to its high premium of 1421.66% and strategic value [2][4]. Group 1: Acquisition Details - The net asset book value of Xinjiang Meisheng is only 109 million yuan, while its assessed value is 1.655 billion yuan, resulting in an increase of 1.546 billion yuan and a valuation increase rate of 1421.66% [4]. - Xinjiang Meisheng is currently in a loss-making state, with a projected net loss of 35.943 million yuan for 2024 and a continued loss of 14.162 million yuan in the first quarter of 2025 [5]. - The core asset of Xinjiang Meisheng is the Kataba Asu gold-copper polymetallic mine, which contains 78.7 tons of gold, 49,000 tons of copper, and 125.54 tons of associated silver [7]. Group 2: Impact on Western Gold - Following the acquisition, Western Gold's gold resource reserves will increase from 32.15 tons to 110.85 tons, representing a growth of 245% [8]. - The Kataba Asu gold-copper mine is expected to commence production in the second half of 2025, with a designed capacity of 4,000 tons per day and an annual gold output of 3.3 tons [9]. - This additional output is equivalent to 34.4% of Western Gold's projected gold production of 9.59 tons in 2024, significantly enhancing the company's gold production capacity [10]. Group 3: Financial Performance - In 2023, Western Gold faced challenges, resulting in a net loss of 274 million yuan and a gross margin of only 5.03% [13]. - The company is expected to recover in 2024, with projected revenue of 7 billion yuan, a year-on-year increase of 56.68%, and a net profit of 290 million yuan, improving the gross margin to 11.42% [13]. - The acquisition will be financed through a combination of self-funds and bank loans, which may exert pressure on the company's cash flow, especially given a net operating cash flow of -159 million yuan in the first quarter of 2025 and cash reserves of only 955 million yuan [17][18].

Group 1 - The company, Lingbao Gold Group Co., Ltd., has released a positive profit forecast, expecting revenue for the first half of 2025 to be between 7.49 billion and 7.92 billion RMB, representing a year-on-year growth of 75% to 85%. Net profit is projected to be between 656 million and 687 million RMB, reflecting a year-on-year increase of 330% to 350% [2] - The increase in revenue and net profit is attributed to the acceleration of production pace, significant increase in gold output compared to the same period last year, continuous improvement in mining technology, and strict cost control measures, which have enhanced operational efficiency and reduced costs. Additionally, favorable factors such as rising gold market prices have significantly improved overall performance [2] - Since 2025, the company has been actively promoting exploration, expansion of production capacity, and technological transformation projects, including the construction of multiple large tailings storage facilities and underground infrastructure, as well as the upgrade and expansion of mineral processing plants and green smelting [2] Group 2 - As of June 30, 2025, the company has made breakthroughs in three-dimensional digital mining construction, with its subsidiary Huatai Company achieving three-dimensional collaborative design in geology, measurement, and mining. This technology is expected to effectively reduce engineering risks and enhance resource utilization, positioning it as a leading practice in the intelligent construction of domestic metal mines [3] - The company has completed the overall design of its digital transformation plan and is currently implementing 11 digital projects, with 3 already launched. In the field of AI applications, the company has initiated the Lingjin AI Laboratory project, upgrading standard machine rooms to support localized deployment of AI models and conducting AI-assisted office pilot projects in finance and human resources [2]

Core Viewpoint - Western Gold has signed a cash asset purchase agreement with its controlling shareholder, Xinjiang Nonferrous Metals Industry Group, to acquire 100% equity of Xinjiang Meisheng Mining Co., Ltd, which will become a wholly-owned subsidiary upon completion of the transaction [1][2] Group 1: Transaction Details - The acquisition will be funded through the company's own funds and loans [1] - Xinjiang Meisheng's core asset is the Katerbaasu gold-copper polymetallic mine project, with a proven ore total of 25.67 million tons and gold resources amounting to 78.7 tons [1] - The project is expected to reach a production capacity of 4,000 tons per day, with an annual output of 1.2 million tons of ore, yielding approximately 3.3 tons of gold metal [1] Group 2: Strategic Implications - The acquisition aligns with Western Gold's overall development strategy, enhancing its gold resource reserves and production capacity [2] - The deal is expected to optimize Western Gold's industrial layout and strengthen its market competitiveness, ultimately providing greater value returns to shareholders [2]