Asia
Xingye Silver & Tin Mining Unit Acquires Tibet Gold Mine for 164 Million Yuan; Shares Up 5%
Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) indirect unit Xinda Mining agreed to fully acquire Tibet Sunshine Mining Investment for 164 million yuan, according to a Thursday filing with the Shenzhen bourse.Tibet Sunshine Mining Investment holds a 70% stake in the Chalapu gold mine in Tibet, but the stake in the operating unit and its exploration rights are under judicial freeze due to 46 million yuan in overdue guarantees for the Taiyuan Moon Bay Hotel.Shares of the miner jumped 5% in recent trade.
SHE:000426