Summary by Moomoo AI
PURPLE GOLD MINING GROUP CO., LTD. ANNOUNCED ON 22 MARCH 2024 THAT IT WILL PROVIDE RMB 14 BILLION IN FINANCIAL ASSISTANCE TO ITS SUBSIDIARY TIBET XIANGLONG MINING CO., LTD. TO SUPPORT THE DEVELOPMENT OF THE JUNO COPPER MINE PROJECT. The loan is for 10 years with a 5-year LPR plus 1.5 percentage points higher than 5% and will be paid on a monthly and quarterly basis. Purple Gold Mining stated that this grant is not subject to a general meeting of shareholders and will not affect the company's normal production and use of funds. It contributes to the stability and development of its business and risks are manageable. Xianglong Mining is a joint-stock company of Purple Gold Mining. Purple Gold Mining indirectly holds 48.591% of...Show More