Sea shares acquired 6.9% stake in Heng Hao Mining

Source: Internet
Author: User
Keywords Stock equity sea
The potential value of mineral resources let many listed companies moved heart. Sea shares disclosed today, the company May 25 and Tim Hui Investment signed the "equity transfer agreement" to 108 million of the total price of the investment held by the Heng Hao mining 24 million shares, equivalent to 4.5 yuan per share of the transfer price.  After the completion of the transaction, the company holds 6.9% stake in Heng Hao Mining. Data show that Heng Hao Mining since its inception has been engaged in the development of nickel resources and smelting, with mining rights and development needs of the qualification conditions and industry access conditions, in nickel, copper and other non-ferrous metal resources mining, selection, metallurgy and other links mastered the mature technology and accumulated rich experience. Heng Hao Mining existing products are high ice nickel, nickel concentrate, nickel iron and other non-ferrous metals such as copper, including the main products of high ice nickel, nickel concentrate, nickel iron accounted for more than 80% of the total income.  At present, Heng Hao Mining has four nickel mines, a vanadium mine, two manganese mines and two copper-molybdenum mines, of which nickel metal reserves 422,400 tons, manganese metal reserves 166,100 tons, vanadium metal reserves 420,300 tons, copper metal reserves 147,800 tons, cobalt metal reserves 17,400 tons, molybdenum metal reserves 686 tons.  2009, Heng Hao Mining business income of 557 million yuan, net profit of 30.87 million yuan, as of December 31, 2009, Heng Hao Mining per share of net assets of 2 yuan/share, the company said, the main reason for the equity transfer premium is to optimistic about the Heng Hao mining owned nickel, copper and other non-ferrous metal mineral resources long-term strategic value. Sea shares said that the company has been very concerned about non-ferrous metal mining industry, through the participation in Heng Hao Mining, the company can participate in Heng Hao Mining rich mineral resources development and utilization, into the upstream of the mining industry, and further realize the company's strategic vision. Heng Hao Mining in overseas prospecting has its own advantages, overseas investment holding the Indonesian Hengfeng Co., Ltd., mastered the Marbury mine, but also in the Philippines to share the Oriental Heng Hao Mining Co., Ltd., through this investment, the company hopes to quickly discover and have a number of overseas high-quality minerals, open up a new area of internationalization strategy.  In addition, the company to the processing industry upstream mining industry, into nickel, vanadium and other metal processing industries, can effectively improve the profit structure. The company said that after completing this acquisition, according to the specific circumstances, timing through the acquisition of Heng Hao Mining existing shareholders or Xiang Henghao mining increase in the form of increased investment in Heng Hao Mining shares.
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