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October 23, 2012
14:02 EDTKGJIKingold Jewelry signs agreement with Shanghai Laofengxiang
Kingold Jewelry has entered into a major gold-processing agreement with Shanghai Laofengxiang Jewelry Research Institute, a subsidiary of Shanghai Laofengxiang Co., Ltd.Pursuant to the agreement, Kingold will process a variety of 24-karat gold jewelry products for Shanghai Laofengxiang beginning immediately until December 31, 2013. Kingold will process at least 5 tons, or approximately 176,370 ounces, of jewelry products until the expiration date of the agreement. In contrast, Kingold processed around 2 tons of gold jewelry for Shanghai Laofengxiang in 2011. Based on the processing fee of RMB 10.6 yuan per 1 gram of 24-karat gold, this would equate to approximately RMB 53M or $8.4M of processing fees in the next five quarters.
News For KGJI From The Last 14 Days
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December 15, 2014
08:08 EDTKGJIKingold Jewelry terminates At Market Issuance sales agreement
Kingold Jewelry announced that it and MLV & Co. mutually agreed to immediately terminate the previously announced At Market Issuance Sales Agreement pursuant to which the company could have offered and sold up to $10M of shares of its common stock from time to time with MLV as sales agent. The company did not sell any shares of its common stock under the ATM Facility. The Chairman of Kingold intends to schedule a meeting of its board of directors to review corporate strategy with a view towards enhancing stockholder value, the company noted. The review process will be ongoing and is expected to define corporate goals that focus on increasing stockholder value, providing greater access to management, setting high standards of corporate governance, reviewing the role of professional advisors and providing investors with the appropriate level of information and transparency.
December 9, 2014
07:06 EDTKGJIKingold Jewelry provides update on at-the-market offering
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