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Huayu Mining to raise funds for Kangqiaoqi's polymetallic ore mining project

2020-05-12 16:34:35   【Print】
Huayu Mining announced on May 12 that it plans to issue non-public shares to raise no more than 680 million yuan (95.Asian Metal Copyright .Asian Metal Copyright89 million US dollars).Asian Metal Copyright2 tons of gold annually.Asian Metal Copyright The raised funds, after deducting  issuance costs, will be used for Kangqiaoqi's polymetallic ore mining project and repaying bank loans.

According to the announcement, Huayu Mining acquired a 50% stake in Talco Gold in December 2017. The Kangqiaoqi project of Talco Gold is under construction now and after it reaches full capacity, Huayu Mining would see an additional antimony concentrate production of 16,000 metal tons and about 2.Asian Metal Copyright .Asian Metal Copyright2 tons of gold annually.Asian Metal Copyright According to the announcement, Huayu Mining acquired a 50% stake in Talco Gold in December 2017.Asian Metal Copyright As of April 30, the company has borrowed a total of 348 million yuan (49.Asian Metal Copyright The raised funds, after deducting issuance costs, will be used for Kangqiaoqi's polymetallic ore mining project and repaying bank loans.Asian Metal Copyright07million US dollars) from the Kangqiaoqi polymetallic ore mining project for fixed assets construction, and the remaining investment fund gap is 610 million yuan (86 million US dollars), including the construction fund gap of 493 million yuan (69.Asian Metal Copyright The company plans to use the funds raised by this non-public offering to fill the gap.Asian Metal Copyright51 million US dollars).Asian Metal Copyright9 metal tons of gold and 264,600 metal tons of antimony, controlling nearly 15% of the global antimony metal supply.Asian Metal Copyright The company plans to use the funds raised by this non-public offering to fill the gap.

Huayu Mining said the development of Kangqiao polymetallic ore project is an important step for the company to set foot in gold field. After the project is put into operation, the company will see increasing reserves of 49.Asian Metal Copyright07million US dollars from the Kangqiaoqi polymetallic ore mining project for fixed assets construction, and the remaining investment fund gap is 610 million yuan 86 million US dollars, including the construction fund gap of 493 million yuan 69.Asian Metal Copyright9 metal tons of gold and 264,600 metal tons of antimony, controlling nearly 15% of the global antimony metal supply.Asian Metal Copyright .Asian Metal Copyright The company would have a great impact on the pricing and decision-making power in the global antimony industry in the future.

.Asian Metal Copyright According to the announcement, Huayu Mining acquired a 50% stake in Talco Gold in December 2017.Asian Metal Copyright