China Silver, Mount Everest Gold jointly acquire equity stake

China Silver Group and Mount Everest Gold Group announced a joint acquisition of a 55% equity interest in an unnamed target company for the RMB3.5 million and RMB2 million respectively. The target company, through its holding in Xizang Shigatse, possesses an exploration license for mineral resources in Shigatse, Tibet. The acquisition, structured through equity transfer agreements, will see Mount Everest Gold holding a 35% stake and China Silver a 20% stake. While Mount Everest Gold will account for its investment as an associate, China Silver will consolidate the target company's financial results. The transaction is classified as a connected transaction under Hong Kong Listing Rules, subject to reporting and announcement requirements but exempt from circular and shareholder approval.