Sinovus Mining (SNV)

Shares / Stock Code

SNV

Stock Exchange / Sharemarket

Australian Securities Exchange

Sinovus Mining (SNV) is an Australian public company, it was formed in August 2006 with the specific intent to acquire and develop high value precious metals and mineral projects in China. SML specialises in Chinese opportunities that have gone unexploited due to a lack of capital resources and / or modern exploration technology. After several years of work, SML has designed and constructed a unique approach to unlocking undervalued opportunities within China. The company was listed on Australian stock market (ASX) on 11 December, 2007.

The Company is building a talented and experienced team to drive its projects through use of strong relationships with local partners. SML will continue to identify and acquire quality resource projects. The Directors of Sinovus Mining Ltd believe that the Company has an excellent platform for substantial growth underpinned by a sound program for project acquisition, mineral exploration and development in China’s most promising regions.

During the fiscal year ended June 30, 2009 (fiscal 2009), the Company focused its exploration activities on undergrouond exploration drives(tunnelling) and targeted diamond drilling intercepts. In the 70% owned Heilongjiang Dragon State resources joint venture, the Company has undertaken field work on two exploration tenements. In the Laogouxi project 3,150 cubic meters of trenching was completed. In November 2009, the Company completed the acquisition of Sino Coal Limited.

In December 2006, seed capital raising commenced, which was to last for two months, raising approximately A$2.1 million from sophisticated investors of Martin Place Securities at 10 cent per share. On January 15 2007, Hebei Sinovus Mining Co Limited obtained its business licence, hence commencing the first business operations for Sinovus in China. On March 5 2007, the first Hebei Sinovus Mining Co Limited’s Board of Directors held a board meeting in Zhangjiakou, which approved 2007 exploration work plan and a work budget.

In May, field exploration work commenced with RC drilling and underground horizontal drive work at its core components for the Xiangguang Ag-Mn project. A satellite data review of the 84.600 km2 exclusive cooperative area in Heilongjiang Province made significant achievement, with recommendation of 14 blocks of areas prospective for gold mineralisation, which led to the application of 20 new exploration licenses in the area, totaling more than 1300 km2.

On 29 May 2007, Hebei Sinovus Mining Co Limited obtained the mining lease covering the northern part of the Xiangguang Ag-Mn deposits, which was transferred from its local partner to the JV; application for transfer of the exploration licence, covering rests of the deposits is completed in early September 2007.

Sinovus Mining (SNV) Products and Services

  • Minerals exploration company, seeking to acquire and develop high value precious.

Sinovus Mining (SNV) Locations and Subsidiaries

Sinovus Mining Head Office
Suite 1002, Level 10,, 4 Bridge St,
SYDNEY, NSW, AUSTRALIA, 2000
Phone: 61 2 9252 8293
Fax: 61 2 9252 8294

Sinovus Mining (SNV) Share Price

Submitted by ASX Listed Company on 30 May, 2010 - 20:02

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