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Xingye Silver & Tin Mining to Hold 20% of Tartana Minerals for AU$5.2 Million; Xingye Down 5%

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Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) agreed to subscribe for 20% of Australian firm Tartana Minerals' (ASX:TAT) issued shares for AU$5.2 million, according to a Shenzhen bourse filing on Friday.

The acquisition will be made through a private placement through Xingye's subsidiary, Xingye Gold (Hong Kong).

Tartana holds eight mining leases and 22 exploration licenses, including the Tartana copper-zinc project, Nightflower silver project, Cardross-Maid gold project, Daisy Bell tungsten-tin project and Montalbion silver project.

Xingye's shares dropped 5% during the afternoon trade, while Tartana's shares surged 30% at the close of Australia's markets.

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