Yintai Gold (000975.SZ) announced on September 14 its acquisition of Zhang Hui’s holding of 60 percent of the shares in Mangshi Huasheng Gold Mine Development Co., Ltd. for RMB1.037 billion. The Company has completed the registration procedures for the equity transfer.
The core business of Huasheng Gold Mine is the mining, beneficiation and smelting of crude gold, and its core asset is the mining right of the Mangshi Gold Mine. It holds a mining license. Its current annual production scale is 100,000 tons, and it is applying to increase it to 1.2 million tons. As of December 31, 2020, the Mangshi Gold Mine has a total of 23.225 million tons of gold resources, 70.67 tons of gold metal, and an average Au grade of 3.04 g/ton.
A high-quality gold-based mine investment operator, Yintai Gold (000975.SZ) is committed to the mining and beneficiation of precious metals and non-ferrous metals and metal trading, and owns the largest reserves of silver polymetallic mines in China with the highest individual silver grades and high-quality gold mines. It has developed into one of the leading and influential listed companies in the domestic precious metals industry.