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Stock Market & Financial Investment News

News Breaks
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.
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July 31, 2014
08:34 EDTKGJIKingold Jewelry changes payout schedule for special 8c cash dividend
Kingold Jewelry announced an adjustment to the payout date of its previously announced special cash dividend of 8c per share of common stock. The dividend will now be payable no later than August 28 to stockholders of record as of June 30. The change is due to the company requiring additional time to receive provincial government approvals in order to disperse the appropriate funds to stockholders. The total amount of cash distributed in the dividend is expected to be approximately $5.3M.

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