BC’s Minco Silver Enters Preliminary Agreement to Acquire Chinese Gold Mining Company

Vancouver-headquartered Minco Silver Corporation has entered into a preliminary agreement to acquire 70 per cent of the equity interests in Changling Longxin Mining Co., Ltd., a Chinese mining company which holds a 100 per cent interest in the Longwangshan Gold Mine, located in Hunan, China. The estimated purchase price ranges from C$28 million to 32 million. In conjunction with the proposed acquisition, Minco China has also entered a C$14.2 million loan agreement with Longxin Mining and its shareholders, which will be converted into equity in Longxin Mining should Minco proceed with the acquisition. Minco Silver Corporation focuses on the acquisition and development of silver mining projects. 

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