Spruce Point Issues Strong Sell On CGC.CA

JINFF CGC.CA - closed 0.40% in Hong Kong trading - overnight short report: Spruce Point Capital Management Issues "Strong Sell" Research Opinion On China Gold International Resources Corp Ltd. (TSX: CGG / HK: 2099). -"we believe and estimate that shares of China Gold International Resources Corp Ltd. have 50% - 75% long-term potential downside risk, and are likely to underperform the market and global metal and mining peers....After conducting a forensic financial review of China Gold International Resources Corp Ltd., a Vancouver, B.C. based company with two mines in the Tibet and Mongolian regions of China, we have serious concerns with the management, Board governance, related party dealings with its largest shareholder China National Gold (“CNG”), web of auditors, financial and geological Advisors.

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