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Xingye Silver & Tin Pays First Installment for Tartana Stake Deal; Shares Up 4%

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Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) paid the first installment worth AU$2.3 million for the acquisition of 20% of Australia's Tartana Minerals (ASX:TAT), according to a Shenzhen bourse filing on Wednesday.

The mining company, through its unit, Xingye Gold (Hong Kong) Mining, now holds 9.99% of Tartana.

Xingye signed the agreement in July to acquire 20% of Tartana for AU$5.2 million. The acquisition would be made in two tranches.

Xingye's shares rose 4% during the morning trade.

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