zhaojin mining ann. last year to investors

http://en.zhaojin.com.cn/news.php?id=1234

ZHAOJIN MINING INDUSTRY COMPANY LIMITED*
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(a joint stock limited company incorporated in the People?s Republic of China with limited liability)
(Stock Code: 1818)
Announcement
Cash SUBSCRIPTION in SHARES OF CITIGOLD
The Board is pleased to announce that Sparky International, a wholly-owned subsidiary of the
Company, has subscribed for 20,000,000 ordinary shares of Citigold at a total consideration
of AUD2,000,000 (equivalent to approximately RMB11,500,000). Upon completion of such
subscription, Sparky International will be interested in approximately 2% of the outstanding
share capital of Citigold and will become the fifth largest shareholder of Citigold.
The Board has noted that an announcement will be published by Citigold in Australian
Securities Exchange on 26 July 2010 in relation to, among others, the following: (1) the
subscription money of AUD2,000,000 from the Group through Sparky International has been
received; (2) the subscription of 20,000,000 shares of Citigold is made after having received
F.I.R.B. approval; and (3) both companies will continue to negotiate for a possible larger deal
that may see the Company take a more substantial position in Citigold and its 10,000,000 ozs
gold deposit and mining operations at Charters Towers in Australia.
The Board is of the view that active exploration and capture of new investment opportunities
is a basic strategy for the Company to participate in the development of international
mining industry. Through the participation in the financing subscription in Citigold, the
Company will become one of the important strategic shareholders of Citigold which sets the
fundamental for the Company to develop international projects on a broader and deeper level
in the future.
This subscription does not constitute a connected transaction of the Company under Chapter
14A of the Listing Rules, nor a notifiable transaction of the Company under Chapter 14 of
the Listing Rules.
This announcement is made by the Company on a voluntary basis.