HAve to agree ferret.I bought in, sit & hold for a 12 mth...

HAve to agree ferret.
I bought in, sit & hold for a 12 mth review.
Given $US position against the Chinese mega US bond buys, the US deficit etc etc China will be instigating a lot more of the global fiancial calls within 10 yrs.

The AGE
SINO GOLD LlMITED

Sino Gold secures loan for Chinese mine
January 21, 2005 - 2:09PM

Sydney-based Sino Gold has secured a $US40 million ($A53 million) loan to build China's second-largest gold mine.
Sino, already the only foreign company mining gold in China, said the project financing facility was arranged and jointly underwritten by Standard Bank London Ltd and Bayerische Hypo-und Vereinsbank AG, with a seven year term including a two year grace period.

As part of the deal, Sino has hedged about 30 per cent of its 2.1 million ounces of mineable gold reserves and 18 per cent of its 3.5 million of gold resources.

The financing comes after Sino announced on Monday it had received the green light from the provincial government to construct the Jinfeng mine in southwestern Guizhou province.

Jinfeng, the largest undeveloped gold deposit in China, is expected to produce about 180,000 ounces of the precious metal annually.

First gold pour is planned for mid-2006 with a ramp-up to design capacity anticipated over the remainder of that year. END