Shandong Gold buys more than 1.2 billion stone company's 75% stake

NetEase Financial November 4 News of Shandong Gold evening announcement, the company intends to spend 1.245 billion yuan to acquire natural Huangga holdings of the stone company 75% Equity.　　After the transfer is completed, Jinshi will become a subsidiary of the company holding 75%, while the remaining 25% stake is still held by Huangga.　　Jinshi Company has Shandong province Laizhou Qu Gold deposit prospecting right, exploration area of 16.7 square kilometers, the effective period of exploration right is January 28, 2010 to June 30, 2011, the expected company gold metal Resources will increase the amount of more than 7.1 tons.　　The company said that after the acquisition of the equity, can increase the gold resources of Shandong gold reserves and corporate profits, reduce production costs, in line with the overall layout of the company's resources strategy, to enhance the size of the main business of Shandong Gold and sustainable operation capacity, in line with the interests of all shareholders. Shandong Gold closed at 61.66 Yuan today, up 1.75%.