mining acquisition - no news - 15 days after second deadline The IPO raised around 30 million. Only 55% is to be used for the purchase of further mining assets. www1.hkexnews.hk/listedco/listconews/sehk/...024032501073.pdf pdf.
It remains to be seen what price/performance ratio the new acquisition will achieve and how high the bill will be in the end.
According to the latest information, the process has been delayed by 3 months and the following points should now be completed by “July 2024”.
“Therefore, the Group expects that the above actions what were intended to have been achieved by 31 March 2024 will be delayed to July 2024 (the “Delay”). As a result, the expected time to complete the acquisition and the final capital contribution made by the Group will also be delayed. Hence, the completion of the future plan of Group to expand its business through selective acquisitions of the gold mining assets is expected to be postponed to February 2025.”
It was
also originally expected that by March 31, 2024:
(i) a formal definitive agreement with the owner of the potential target would be entered
into;
(ii) relevant regulatory approvals would be applied for, including the business license;
(iii) first capital contribution conducted; and
(iv) mining assets into the newly established sino-foreign joint venture would be injected.
www1.hkexnews.hk/listedco/listconews/sehk/...024032501073.pdf pdf.