On March 30, Mr. Gao Bo, Director and Vice President of Chifeng Gold and Chairman of LXML, went to Vientiane to visit and have a discussion with Mr. Phosay Sayasone, Minister of Energy and Minerals of Laos. Present in the discussion meeting also included Kal Baker Duly and Saman Anek, General Manager and Deputy General Manager of LXML.

Mr. Gao Bo, on behalf of Chifeng Gold Group and LXML, expressed his appreciation to the Government of Laos and the Ministry of Energy and Minerals for the huge support given to LXML . Given that Sepon mine area of LXML boasts rich resources and holds great potential in future prospect, Chifeng Gold has always been attaching great importance to the LXML and making sustained capital investment. A big portion of the funds to be raised after successfully issuing GDR in Switzerland by Chifeng Gold will be allocated to invest into the development and construction of Sepon mine. LXML will witness a stable growth in scale, output and the number of employees. In addition, Mr. Gao Bo was in the hope that the Ministry of Energy and Minerals would coordinate and communicate with relevant government authorities to agree on a mutually beneficial scheme with the company, so as to reduce our energy costs and facilitate the continued development and the achievement of better performance of LXML, which would contribute to the creation of more local jobs and tax revenue for the government of Laos.

Karl Baker Duly, the General Manager of LXML, then gave an introduction to the operating status and the overall yearly budget of the company; Saman Anek, the Deputy GM, also reiterated to the Minister the determination of the company to maintain in-depth cooperation with the government of Laos.

The Minister Phosay Sayasones expressed his welcome to the delegate led by Mr. Gao Bo. He commended the huge contribution made by LXML to the economy and society of Laos and gave high opinions of the results achieved in terms of community construction, job creation and environmental protection. The Minister said he would organize discussions with the relevant departments as soon as he can and finalize a suitable scheme to help the company reduce energy costs.  The Ministry of Energy and Minerals would continue to render its support to LXML and have full confidence in seeing a better Sepon mine under the management of LXML. Upon the end of the meeting, the Minister happily accepted Mr. Gao Bo’s invitation to pay another visit to Sepon mine in the near future.