Sino Prosper Undergoes Business Transformation

Sino Prosper State Gold Resources Holdings announces its unauditecuba gold mines for sale pricesd interim results for the six months ended 30 September 2010.

During the Period, Sino Prosper's revenue totalled HK$29.8 million, of which 93% was from the sale of gold (2009:19.4%); and 7% from the sale of fuel oil and chemicals (2009:80.6%). The Group's net loss attributable to shareholders was approximately HK$27.3 million (2009:approximately HK$6.1 million). The loss was mainly due to the loss on early redemption of a promissory note, and the finance costs on convertible bonds and the promissory note. The Board of Directors did not recommend the payment of an interim dividend for the six moths ended 30 September 2010. During the Period, the Group has been transforming its business to focus on the mining and production of precious metals in China and has made significant progress in only 4 months since completion of the acquisition of its 70% stake in Ao Han Qi Xin Rui En Mining Industry Co., in Inner Mongolia. Sino Prosper has completed the first stage expansion of the AoHanQi Mine and the construction of a 500 tonnes per day ore processing plant. Current financial performance does not reflect the potential impact of the operation of the new plant. The current output capacity of the mine has increased to 600 tonnes per day . Second stage expansion is now