Zhongjin Gold plans acquisition of gold mining assets

Zhongjin Gold Corp (SSE:600489) announced plans to acquire stakes in several gold mining companies from its controlling shareholder, China National Gold Group Co., Ltd. and its subsidiaries. The proposed acquisitions include a 49.33625% stake in Inner Mongolia Jintao Co., Ltd., an 80% stake in Hebei Dabaiyang Gold Mine Co., Ltd., a 70% stake in Liaoning Tianli Gold Industry Co., Ltd., and a 70% stake in Liaoning Jinfeng Gold Mine Co., Ltd. The transactions are designed to support Zhongjin Gold’s primary business, enhance its growth potential, and address potential conflicts of interest. These acquisitions constitute related-party transactions and are subject to further audit, valuation, and regulatory approvals, including shareholder approval and state-owned asset supervision authority review. Final terms, including the acquisition prices, are yet to be determined.