St Nonferrous metals to be injected 800 million yuan non-ferrous metal assets

Nearly one months after the suspension, St Nonferrous (600259) 18th announced an asset injection program.　　The company intends to the controlling shareholder Guangdong Guang Sheng Nonferrous Metals Group and strategic investors to 16.82 yuan per share of the price directed issue not more than 55 million shares, purchase 799.62 million yuan non-ferrous metal resources assets. Injection of assets, including Lianping County Pearl River Mining Co., Ltd. 60% stake, Guang Sheng Nonferrous Metals Group Holdings of Qingyuan Jiahe Rare Metal Co., Ltd. 30.5% stake and Qingyuan jiahe Rare Metal Co., Ltd. Other shareholders of the 30.5% shareholding, Guang Sheng Nonferrous Group held the South storage and Storage Management Co., Ltd. 28% Equity,　　Guang Sheng Nonferrous Metals Group Holdings in Guangdong Sheng World nonferrous Metal Warehousing Logistics Co., Ltd. 100% equity; Wengyuan County Nonferrous Metals Co., Ltd. Investment in the Red Ridge tungsten ore assets. Prior to the transaction, St Nonferrous was the only legal rare earth miner in Guangdong Province, and it was developing into an orderly orbit through resource integration. Tungsten resources, the company has five tungsten mines in northern Guangdong, and has intensified its prospecting work in the surrounding and deep areas of the original mines. The company said that after the completion of the transaction, the company will realize the Red Ridge mining resources Assets acquisition, to achieve the China Securities Regulatory Commission before the commitment to the healthy development of the company to create a good external environment. At the same time, the transaction will integrate the tungsten resources in Guangdong province, rare earth processing industry and the extension of non-ferrous metal industry chain, to promote the company's asset size, main business and profitability of the rapid growth.