https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0823/2024082300664.pdf
They will use the proceeds dedicated to pay back bank loans, to add to the fonds for the mining aquisation. boring
The timeframe to finsih the mining acquisition is still 02.25. So if you believe this, its still on and presumably on track. The points below should be accomplished by 31.07.25. No communication from MGM - i was not able to find information online “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.