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Emerald Resources-Backed Manda Resources Acquires Broken Hill's Queensland Assets

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Emerald Resources (ASX:EMR) said Manda Resources, an unlisted firm in which Emerald holds a direct 19.8% equity stake, completed the acquisition of Broken Hill Gold's (ASX:BH6) assets in Queensland, according to a Tuesday Australian bourse filing.

The assets include the Alice River and St George gold-antimony project. The St George Project is currently under joint venture with Hard Rock Minerals Exploration. Manda also completed the acquisition of the issued capital of Territory Minerals, which secured ownership of the Tregoora and Northcote Goldfields projects.

Manda is proposing to list on the ASX late this year, and Emerald plans to take a cornerstone stake in the initial public offering (IPO) and maintain an interest of around 19.9% of Manda's issued capital on completion of the IPO.

What else is happening in Asia?

Asia

Market Chatter: SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment

SoftBank Group (TYO:9984) has launched $10 billion and 1 billion euros in senior unsecured notes to fund its investment in OpenAI, Reuters reported Monday, citing a term sheet.The dollar-denominated tranches mature in 3.5, 5.5, and 7.5 years, while the euro portions mature in four and six years, the newswire said.The proceeds will finance SoftBank's $10 billion payment for the third tranche of its OpenAI follow-on investment, expected to close on Oct. 1, while the remaining funds will be used for general corporate purposes, the report said.SoftBank Group did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:9984
Asia

Shenzhen Transsion's Hong Kong Listing Application Under Review; Shares Up 4%

Shenzhen Transsion (SHA:688036) said the Hong Kong Exchange is reviewing its application for listing on the Main Board.The listing is pending final approval from the Hong Kong bourse, the city's Securities and Futures Commission, and other regulators, according to a weekend filing with the Shanghai bourse.Shares of the mobile phone maker rose 4% in recent trade.

SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

Shanghai Rural Commercial Bank (SHA:601825) received approval from China's National Financial Regulatory Administration to absorb Shanghai Chongming Rural Commercial Bank, according to a Saturday filing with the Shanghai bourse.The listed commercial bank will absorb Chongming RCB's assets, liabilities, institutions, businesses, employees, and other rights and obligations and will dissolve Chongming, according to the filing.

SHA:601825