Metals and Mining
Company Overview of Inter Citic Minerals Inc.
Inter-Citic Minerals Inc., a development stage company, engages in the acquisition, exploration, and development of mineral properties in the People’s Republic of China. It is exploring the Dachang gold project, which consists of 4 exploration licenses covering an area of approximately 279 square kilometers located in Qinghai province, the People's Republic of China. The company was formerly known as Inter-Citic Mineral Technologies Inc. and changed its name to Inter-Citic Minerals Inc. in December 2003. Inter-Citic Minerals Inc. was incorporated in 1985 and is headquartered in Markham, Canada. As of November 19, 2012, Inter Citic Minerals Inc. operates as a subsidiary of Western Mining Co. ...
60 Columbia Way
Markham, ON L3R 0C9
Founded in 1985
Key Executives for Inter Citic Minerals Inc.
Chief Financial Officer and Vice President of China Operations
Vice President of Corporate Communications
Vice President of Development and Director
Compensation as of Fiscal Year 2013.
Inter Citic Minerals Inc. Key Developments
Inter Citic Minerals Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended August 31, 2012
Oct 10 12
Inter Citic Minerals Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended August 31, 2012. For the quarter, loss and comprehensive loss for the period was CAD 1,342,544 compared to CAD 871,051 for the same period a year ago. Basic and diluted loss per common share was CAD 0.01 compared to CAD 0.01 for the same period a year ago.
For the nine months, loss and comprehensive loss for the period was CAD 3,393,939 compared to CAD 4,752,230 for the same period a year ago. Basic and diluted loss per common share was CAD 0.03 compared to CAD 0.04 for the same period a year ago. Cash used in operating activities was CAD 3,026,354 compared to CAD 2,889,020 for the same period a year ago. Property, plant and equipment acquisitions were CAD 35,455 compared to CAD 34,382 for the same period a year ago.
Inter Citic Minerals Inc., Special/Extraordinary Shareholders Meeting, Oct 29, 2012
Sep 11 12
Inter Citic Minerals Inc., Special/Extraordinary Shareholders Meeting, Oct 29, 2012., at 09:00 Eastern Daylight. Location: Offices of Miller Thomson LLP. Agenda: To consider the an interim order of the Ontario superior court of justice dated October 3, 2012, as the same may be amended and, if deemed advisable, to pass, with or without variation, a special resolution of Shareholders the full text of which is attached as appendix A to the accompanying management proxy circular of Inter-Citic approving an arrangement under section 192 of the Canada business corporations act involving, among other things, the acquisition by Qing Hai Mining Acquisition Corp. an indirect wholly-owned subsidiary of Western Mining Group Co., Ltd. of all of the issued and outstanding company shares in cash per company share, all as more particularly described in the arrangement agreement; and to transact such further or other business as may properly be brought before the meeting or at any adjournment or postponement thereof.
Inter Citic Minerals Inc. Reports Updated NI 43-101 Compliant Mineral Resource Estimate for its Dachang Gold Project
Jun 19 12
Inter Citic Minerals Inc. announced an update to the company's NI 43-101 compliant mineral resource estimate for its Dachang Gold Project in China. With this newest mineral resource estimate the company's measured and indicated mineral resources at Dachang increased by an additional 320,000 ounces of gold, and the company's inferred mineral resources increased by an additional 250,000 ounces. The current NI 43-101 compliant mineral resource estimate at Dachang now stands at: Estimated Measured and Indicated mineral resources of 2.20 million ounces contained gold (22.52 million tonnes grading 3.04 g/t Au); plus, estimated Inferred mineral resources of an additional 2.18 million ounces contained gold (25.91 million tonnes grading 2.62 g/t Au). Of the estimated Measured and Indicated mineral resources, 320,000 ounces (5.32 million tonnes grading 1.80 g/t Au) are outside the Dachang Main Zone on the 861/XP fault structure. This inventory of mineral resources for the Dachang Gold Project has been updated by the company with the results from the 2011 exploration program with a total of 25,003 meters of drilling in 317 diamond drill holes and approximately 21,000 metres of surface trenching. Since 2004 Inter-Citic has drilled 1,362 diamond drill holes totaling 174,000 m and has excavated and sampled 1,108 trenches totaling more than 109,000 linear metres.
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