November 16 – Hainan Zhenghe Industrial Group (600759.SH) plans to acquire a 34.02 percent stake in Inner Mongolia Aohansike Lidai Mining Limited, a gold mining firm, for 83 million yuan, reports stcn.com, citing a company filing.

Zhenghe Industrial Group will become a large shareholder in Inner Mongolia Aohansike Lidai Mining Limited after the acquisition is complete.

The gold miner forecasts full-year net profits for 2012-2014 will be 100 million yuan, 130 million yuan and 170 million yuan.

The target firm has an annual designed capacity of 30,000 tons with a total mining area of 1.91 square kilometers.

As of the end of June, the mine had 777,400 tons of mineral reserves and 4,130.55 kilograms of gold metal reserves.

Shares of the firm almost doubled in the 11 trading sessions during the period of August 1 to 15.

Guangxi Zhenghe earned 670 million yuan from share disposals in the past 11 months, and the company sold nearly 61 million shares from July to October.
 

Source:CapitalVue