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Persistence through its wholly-owned subsidiary – Majestic Yantai BVI has set up a joint venture company – Yantai Zhongjia with Yantai Dahedong. Persistence holds 75% of Yantai Zhongjia and other 25% of Yantai Zhongjia is owned by Yantai Dahedong.
The project has two mining licenses and one processing plant.
As at 30 June 2023, at a cut-off grade of 0.3 g/t Au, our Songjiagou Open-Pit Mine has Probable Mineral Reserves of approximately 22,600kt at averaging gold grade of 1.17 g/t, approximately 34,200 kt of Indicated Mineral Resources at averaging gold grade of 1.10 g/t, and approximately 36,700 kt of Inferred Mineral Resources at averaging gold grade of 0.95 g/t.
Persistence through its wholly-owned subsidiary – Majestic Yantai BVI has set up a joint venture company – Yantai Zhongjia with Yantai Dahedong. Persistence holds 75% of Yantai Zhongjia and other 25% of Yantai Zhongjia is owned by Yantai Dahedong.
The project has two mining licenses and one processing plant.
As at 30 June 2023, at a cut-off grade of 0.7 g/t Au, our Songjiagou Underground Mine has Probable Mineral Reserves of approximately 530kt at averaging gold grade of 1.39 g/t, approximately 1,640 kt of Indicated Mineral Resources at averaging gold grade of 1.38 g/t, and approximately 3,010 kt of Inferred Mineral Resources at averaging gold grade of 1.24 g/t.
Persistence was incorporated in the Cayman Islands on 21 May 2019. Persistence through its wholly-owned subsidiary – Majestic Yantai Gold Ltd. (BVI) (“Majestic Yantai BVI”) has established Yantai Zhongjia Mining Co. Ltd. (“Yantai Zhongjia”) in Yantai city of Shandong Province, China.
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