Minco Gold Corp (MGH)

Description:

Minco Gold Corporation was incorporated under the Business Corporations Act (British Columbia) on November 5, 1982, under the name 'Caprock Energy Ltd.' The Company changed its name to Minco Gold Corporation on January 29, 2007. Minco Gold Corporation is a British Columbia corporation. Through joint ventures with Chinese governmental entities, and others, the Company is engaged in the acquisition, exploration and development of precious and base metal mineral projects in the People's Republic of China. The Company has subsidiaries which are also engaged in the acquisition and exploration of mineral projects in China. At present, all of the Company's properties are in the exploration stage and further exploration would be required before final evaluations as to the economic and legal feasibility could be determined. The Company is engaged in the exploration and acquisition of gold properties in China. The Company is an exploration stage company and none of the properties are currently beyond the advanced exploration stage. It currently holds interest in a number of sino-foreign co-operative joint ventures with Chinese mining organizations, holding mineral rights in China, located in Inner Mongolia, Guangdong, Hunan and Gansu provinces. The Company spun-out its Silver and Base Metals properties to Minco Silver Corporation and Minco Base Metals Corporation respectively and retains its gold projects (Gobi Gold, Gold Bull Mountain, Longnan, and Changkeng). The equity markets for junior mineral exploration companies are unpredictable. The Company also entered into cost sharing arrangements through joint venture agreements. Minco China entered into a Joint Venture Agreement in December 2010 with the 208 Exploration Team, a subsidiary of China National Nuclear Corporation (the 'CNNC'), to acquire a 51% equity interest in the Tugurige Gold roject located in Inner Mongolia, China.