Saturday, March 10th, 2012 - CWH Resources
CWH Resources says opportunities in gold and uranium mining require unprecedented cooperation.

Sydney, Australia, March 9, 2012: CWH Resources, an Australian resources company (ASX:CWH), claimed today that cooperation between Australian and Chinese mining experts is a must for the industry to prosper over the next 20 years, particularly in the light of strong demand for geologists and mining engineers.

CWH Resources executive chairman, Mr Bao Cheng Luo, said; “We believe the successful smaller resources companies will be ones who are nimble, who can manage costs and get the best geologists, engineers and consultants. For CWH Resources, that means working with Australian and Chinese experts to ensure we can manage costs effectively for shareholders and bring the best skills to bear when the opportunity arises.”

Mr Luo’s comments came after Sydney based CWH Resources announced it had successfully raised $2.51 million from investors for exploration and drilling on gold mine tenements in the Mareeba and Mount Isa regions of northwest Queensland. CWH Resources was readmitted to quotation on the Australian Securities Exchange on March 2, 2012, following its voluntary delisting in January 2011 after the company changed its strategic direction from a manufacturer to a mining exploration company focused on the gold and uranium sectors.

Mr Luo said CWH Resources had experience working with Australian and Chinese mining experts, in geology, exploration, drilling and consultancy.

“Having local experts who know the geography of the tenements we are exploring is obviously critical, and we work with some of the most experienced people. But it is also a competitive advantage to be able to bring in experts from China when appropriate to help manage costs and get the right skills on the ground in a timely manner,” Mr Luo said.

“It is also important that we have the connections in the Chinese end market for gold exporting, as we know the market can present complexities which local Chinese knowledge can help overcome,” he said.

Following the issue of 12.55 million new ordinary shares at 20c per share, CWH Resources will now commence exploration and drilling across two tenements in the Mareeba and Mount Isa districts of Queensland CWH currently holds three tenements in these areas and has applied for several more.

Mr Luo said the strategic direction of CWH Resources had changed when the company realised the future of profitable shareholder growth was more sustainable in mining “clean” commodities such as gold, copper and uranium.

“Having had a background in manufacturing, we took a longer view for our shareholders and our customers, and for sustainability. We see the production of gold and other precious metals providing higher value for our shareholders and of course, gold is a hedge against inflation in China, which is also driving demand for it,” Mr Luo said.

Ends

For more information or a media interview please contact

Peter Witts

Agenda Public Relations

Ph +61 477 274 412

[email protected]

Contact Profile

Peter Witts, Agenda Public Relations

P: +61 477 274 412
W: www.cwh.com.au/

Keywords

CWH Resources says opportunities in gold and uranium mining require unprecedented cooperation.

Categories

Sharing

More Formats