Sino Gold chief executive Jake Klein talks about targeting one million ounces of gold production in 10 years, growing market cap to $5bn and the Chinese advantage.

Quotes

" We have grown our market cap from $100m in 2002 to $1bn, and we want to grow it to $4-$5bn". - Jake Klein

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Jake Klein - Good as Gold

Sino Gold chief executive Jake Klein talks about targeting one million ounces of gold production in 10 years, growing market cap to $5bn and the Chinese advantage.

 

 

Jake Klein - Good as Gold

Jake Klein“CHINA is a very exciting area. It recently stepped up to become the third largest gold producing country in the world and it will be number one in 10 years. You are seeing declines amongst the traditional gold countries  - such as South Africa and Australia - as they face a squeeze on quality assets. They are being hit with rising costs and low levels of discovery success so their margins are being squeezed. China offers ability to reverse that and get high-quality assets again.

Also, the easy deposits in traditional markets have already been found. In China, which has a land mass of a similar size to Australia, there are still massive opportunities. Our flagship mine, Jinfeng, will soon be the second largest gold mine in the country.

China will be number one for gold production within 10 years. China offers a geological prospectivity which is unparalleled and far superior to the traditional mining destinations. The easy deposits have already been found in places like Australia. There is an opportunity there - in a country that is politically stable - to take advantage of some fantastic geology.

Going forward, there will be a massive transformation in the Chinese gold market. At the moment you have a small-scale cottage industry. But there will be a major consolidation phase, which is already underway. It is not unlike how the Australian gold sector consolidated from the 1970s to today.

 

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