On November 27, Gelonghui Co., Ltd. (603132.SH) announced that in order to actively promote the integration of resources in the Jiangluo mining area and increase high-quality assets, the company plans to acquire 100% of the shares in Xiangyangshan Mining with its own capital. Among them, the related party Yaxin holds 65.7143% of the shares, and the unrelated party Cui Tengxian holds 34.2857% of the shares. The consideration for this transaction was RMB 35,000.00 million, of which the transaction amount with the related party Yaxin Company was RMB 23,000.00 million, and the transaction amount with the unrelated party Cui Tengxian was RMB 12,000.00 million. After the transaction is completed, the company will hold 100% of the shares in Xiangyangshan Mining.
The mining rights in this transaction are a mining right owned by the target company. As of September 30, 2023, the mining rights hold (TM+KZ+TD) lead-zinc ore of 80,000 tons, 7,175.00 tons of lead metal, 24,875.00 tons of zinc metal, and 8,479.00 kg of associated element silver. The estimated utilization resource reserves are 665,000 tons, and the recoverable reserves are 567,700 tons. Xiangyangshan Mining has paid 3,899,500 yuan in mining rights concession proceeds in accordance with relevant state regulations.