On December 15, Gelonghui reported that Hainan Mining (601969.SH) announced the company plans to acquire a 47.63% stake in ATZ Mining and a 36.06% stake in Felston by issuing shares to Hainan Yuneng, and to acquire a 20.41% stake in ATZ Mining and a 15.46% stake in Felston by paying cash through a wholly-owned subsidiary that Hainan Mining intends to establish for this transaction, thus cumulatively acquiring a 68.04% stake in ATZ Mining and a 51.52% stake in Felston, while issuing shares to raise matching funds from no more than 35 specific investors. As of the signing date of this preliminary plan summary, the audit and evaluation work of the symbol assets have not yet been completed, and the valuation of the symbol assets and transaction price have not yet been determined.
The main Business of the symbol companies ATZ Mining and Felston is the mining and selection of heavy mineral sand concentrate, including the extraction, preliminary sorting, and transportation of zircon-titanium ore. The heavy mineral sand concentrate produced by the symbol company undergoes further sorting and processing downstream to produce valuable minerals such as titanium concentrate, zircon, monazite, and rutile. The symbol company holds zircon-titanium mining licenses in Mozambique for codes 5004C and 7407C through its subsidiaries, which contain rich mineral resources and can maintain a mining period of more than 15 years within the approved range of the mining licenses.
After this transaction, the listed company will expand its mining and selection Business of heavy mineral sand concentrate, enriching the types of strategic Metal minerals based on the existing resource varieties of the company, which aligns with the company's focus on strategic resources in its main Business layout and strategic planning, further enhancing the scale of operations and resource reserves, beneficial for improving the competitiveness and profitability of the listed company.
