Tongguan Gold Group Ltd. ( (HK:0340) ) has shared an announcement.
Tongguan Gold Group Ltd. has entered into a non-legally binding term sheet with Zijin Metal Company Limited for a streaming transaction involving its gold mines in Gansu Province, China. The agreement includes an upfront cash payment of $25 million from Zijin Metal, with Tongguan Gold committing to deliver specific quantities of gold over a nine-year period. This transaction allows Tongguan Gold to secure immediate funding while providing Zijin Metal with a long-term supply of gold, potentially impacting the company’s financial stability and market positioning.
More about Tongguan Gold Group Ltd.
Tongguan Gold Group Ltd. operates in the mining industry, focusing on the extraction and production of gold. The company is involved in the management of gold mines located in Gansu Province, China, and holds several mining and exploration licenses.
Technical Sentiment Signal: Strong Sell
Current Market Cap: €425.1M
Find detailed analytics on 0340 stock on TipRanks’ Stock Analysis page.