Real Gold Mining 0246

[hottips]

guys, any news on when Real Gold will trade?
i believe that based on the report, the income/mine was properly substantiated?

how come it hasn't started trading yet?

anybody contacted HKEx yet?

[stilicon]

last announcement : http://www.hkexnews.hk/listedco/listconews/sehk/20110722/LTN20110722304.pdf

To me, hiring a "strategic advisor" means putting the company on sale, which is the best the management can do.

At least they took some sensible steps since the start of this affair late may. Although at a very very slow pace.

[winston]

DATE OF BOARD MEETING

The board of directors (the Board) of Real Gold Mining Limited (the Company) announces that a meeting of the Board will be held on Wednesday 31 August 2011 at 11:30 a.m. for the purpose of, among other matters, approving the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended 30 June 2011, as well as the subsequent publication of the results and considering the payment of an interim dividend, if any.

[stilicon]

RESIGNATION WITH IMMEDIATE EFFECT OF MR. WAN (Hired on July 25th 2011 !) AS DIRECTOR.

http://www.hkexnews.hk/listedco/listconews/sehk/20110821/LTN20110821045.pdf

The presence of this new director, a former associate at a Big Four auditor in HK, was giving me some new confidence in this co. Alas, he is running away as fast as he can. Real Gold is a lost case for me now. And yet the price of gold keeps increasing. What a lesson for life !

[winston]

Vested

Peter Wan Kam To quits as Real Gold INED after 25 days

Real Gold has not yet published the reasons he gave for resigning, if any. This suggests that the former PwC partner expressed substantial concerns - otherwise the company would just have published them.

His base fee was a generous HK$1.008m p.a. with a maximum of $1.68m, so this was probably not a question of money. And he wants to skip the 30-day notice period - there's a man in a hurry!

Source: webb-site.com

[winston]

vested

Real Gold: breach of Listing Rules - loan of HK$955m and acquisition from controlling shareholder

In 2011 Q1, the company advanced HK$449.2m to controlling shareholder Wu Ruilin for $520m purported acquisitions of Mongolian phosphorous mines which have not yet completed, and in Feb-Apr-2011, it lent Mr Wu $955m, of which $316m was outstanding at 30-Jun.


http://www.hkexnews.hk/listedco/listcon ... 822583.pdf

[winston]

vested

RESIGNATION OF DIRECTOR AND CHANGE OF MEMBERS OF THE AUDIT COMMITTEE AND
THE NOMINATION COMMITTEE


http://www.hkexnews.hk/listedco/listcon ... 825191.pdf

[winston]

vested

Financial Highlights

Compared to the same period in 2010:
. 26.9% increase in revenue;
. gross margin increased from 75.6% to 77.2%;
. 29.7% increase in government subsidy (included in other income);
. 29.4% increase in segment profit*.

The Board recommended the payment of an interim dividend of HK$0.05 per share for the six months ended 30 June 2011 (six months ended 30 June 2010: nil) out of the Company’s share
premium account, subject to shareholders’ approval on the forthcoming extraordinary general
meeting.

EPS -6%

http://www.hkexnews.hk/listedco/listcon ... 831741.pdf

[winston]

Specialists to see Real Gold books
Friday, September 02, 2011

Real Gold Mining (0246), suspended from trading for more than three months, will hire forensic accounting specialists to look into its books and corporate governance.

The miner was alleged to have made contradictory account filings to local and mainland regulators.

"Flaws were found in the disclosures as the management lacks operating experience and related knowledge on regulations of the Hong Kong exchange," chairman Lu Tianjun said yesterday after revealing the firm's results.

First-half net profit at the Inner Mongolia-based gold miner rose 10.3 percent to 355 million yuan (HK$433 million), or 39.09 fen per share, from a year earlier.

NATALLIE CAI

http://www.thestandard.com.hk/news_deta ... 10902&fc=8

[winston]

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE IS HEREBY GIVEN that the extraordinary general meeting of Real Gold Mining Limited (the Company) will be held at Lotus Room 4, Level 3, Beijing Landmark Hotel, 8 North Dongsanhuan Road, Chaoyang District, Beijing on Wednesday, 26 October 2011 at 10:00 a.m. for the purpose of considering and, if thought fit, passing with or without amendments, the following resolution of the Company:

AS AN ORDINARY RESOLUTION

THAT an interim dividend HK$0.05 per share for the six months ended 30 June 2011 out of the Company's share premium account be and is hereby approved.

http://www.hkexnews.hk/listedco/listcon ... 929078.pdf