Real Gold Mining 0246

Re: Real Gold Mining 0246

Postby winston » Wed Jun 27, 2012 8:36 am

Lessons Learnt

1. Make sure that the Analyst has actually visited the mines.

2. Just because a branded Investment House is touting the stock, it does not mean that they have visited the mines nor actually knows what's going on. Just go thru this thread and see how many branded Investment House was touting this counter.

3. Just because a branded Fund Manager has a big postion, it does not mean that they have also visited the mine not have done their homework properly.

4. Place "Quality Management" on top of your requirements before investing

5. If it's too good to be true, assume that it's a scam first. How can Real Gold's expenses be so low, compared to the other miners ?

6. Check who's the auditor first
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Re: Real Gold Mining 0246

Postby winston » Wed Jun 27, 2012 8:56 am

CONNECTED TRANSACTION

DEBT RESTRUCTURING AGREEMENT

http://www.hkexnews.hk/listedco/listcon ... 626550.pdf
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Re: Real Gold Mining 0246

Postby winston » Wed Jun 27, 2012 8:12 pm

vested

REALGOLD MINING (00246) continues to suspend trading after entering into debt restructuring agreement
2012-06-27

REALGOLD MINING (00246) announced that it had not received necessary information from Top Lucky for conducting a valuation of the mining and exploration rights to which the company originally planned to acquire.

As such, the acquisition has to to be terminated. The company had paid HK$449 million to Top Lucky earlier and therefore the latter has to pay that sum back to the company.

Besides, controlling shareholder Wu Ruilin has yet to repay the loan balance of HK$316 million and accrued interest of HK$28.73 million.

The company entered into a debt restructuring agreement to postpone the due date for debts owed by the two mentioned parties.

Source: AAStocks Financial News
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Re: Real Gold Mining 0246

Postby winston » Mon Aug 06, 2012 4:49 pm

FURTHER DELAY IN DESPATCH OF CIRCULAR RELATING TO THE DEBT RESTRUCTURING AGREEMENT TOGETHER WITH A NOTICE OF THE EGM

As additional time is required for the preparation and finalisation of the contents of the Circular, the date of dispatch of the Circular is expected to be delayed to a date on or before 31 August 2012.

http://www.hkexnews.hk/listedco/listcon ... 806411.pdf
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Re: Real Gold Mining 0246

Postby winston » Fri Aug 10, 2012 8:28 pm

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An independent forensic specialist, FTI Consulting (Hong Kong) Limited, has been engaged to conduct forensic accounting investigations in fulfillment of part of the Resumption Conditions imposed by the Stock Exchange.

The Independent Forensic Specialist anticipates that its investigations will be completed within approximately 10 to 15 weeks.

The Company is still in the process of identifying an accounting firm with suitable experience with the aim of engaging an accounting firm as its auditor.

http://www.hkexnews.hk/listedco/listcon ... 810645.pdf
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Re: Real Gold Mining 0246

Postby winston » Thu Aug 30, 2012 6:20 pm

Further Delay

The board of directors of Real Gold Mining Limited announces that (i) there will be a further delay in the publication of the annual results and dispatch of the annual report of the Company for the year ended 31 December 2011 until further notice; and (ii) there will be a delay in the publication of the interim results and dispatch of the interim report of the Company for the six months ended 30 June 2012 until further notice.

Operational conditions of the Shirengou-Nantaizi Processing Plant

The total production of payable gold and equivalent gold in the first half of 2012 was approximately 29,200 ounces and 36,200 ounces respectively, representing a decrease of approximately 42% and 46% respectively from the same period in 2011.



Operational conditions of the Luotuochang Processing Plant

The total production of payable gold and equivalent gold in the first half of 2012 was approximately 10,200 ounces and 17,900 ounces respectively, representing a decrease of approximately 18% and 39% respectively from the same period in 2011.



http://www.hkexnews.hk/listedco/listcon ... 830484.pdf
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Re: Real Gold Mining 0246

Postby winston » Sat Sep 01, 2012 6:23 pm

stilicon wrote:Has Real Gold been blatantly fraudulent?

Nantaizi Gold Mine

“The daily dressing capability of this ore separation plant is merely 50 tons” the informant told me, “the few people you see here actually just came here to steal the ore.

The company is not currently in production”, there is no formal production of ore, and there are no workers in the ore separation plant.





The latest announcement on the
Shirengou Gold Mine

“There has not actually been much mining activity for the last two years. What can I tell you? They are prospecting all the time and they are taking a terribly long time dragging it out”


Luotuochang Gold Mine

“The mine hasn’t been operating for several years due to poor grade of the ore.” as stated by the Environmental Administration.



http://chinaminingblog.com/2011/11/adventures-with-real-gold/



The latest Operating Conditions by Real Gold, is very different from the article above, that was publiished in the China Economic Times.
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Re: Real Gold Mining 0246

Postby winston » Mon Sep 10, 2012 8:36 am

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CONNECTED TRANSACTION —DEBT RESTRUCTURING AGREEMENT AND NOTICE OF EXTRAORDINARY GENERAL MEETING

http://www.hkexnews.hk/listedco/listcon ... 910018.pdf
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Re: Real Gold Mining 0246

Postby winston » Fri Sep 28, 2012 7:03 pm

FURTHER UPDATE ON PROGRESS ON FULFILLMENT OF RESUMPTION CONDITIONS

1. An independent forensic specialist, FTI Consulting (Hong Kong) Limited, was engaged to conduct forensic accounting investigations in
August 2012.

2. The Company is still in the process of identifying new auditors with suitable experience to fulfill this role.


http://www.hkexnews.hk/listedco/listcon ... 928540.PDF
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Re: Real Gold Mining 0246

Postby winston » Wed Oct 31, 2012 7:07 pm

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FURTHER UPDATE ON PROGRESS ON FULFILLMENT OF RESUMPTION CONDITIONS

The Company has been in discussion with accounting firms and has yet to engage one as its new auditors.

When the forensic accounting investigations are completed, the Company will redouble its efforts to identify an accounting firm with suitable experience for appointment as its new auditors.


http://www.hkexnews.hk/listedco/listcon ... 031260.pdf
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