Nangang shares announced today that it intends to acquire 49% stake in Anhui Huang Huang Zhuang Mining Co. Ltd. with its own capital of 211 million 680 thousand yuan.

In May 6th of this year, Nangang shares signed a cooperation agreement with the new mining group, and the two sides shared the 50% shareholding of the three Huang Huang Zhuang mining companies jointly owned by the Anhui garment import and export company. Among them, the listed company was allowed 49% of the shares and the new mining group was granted a 1% stake. Yesterday, the company signed a share transfer agreement with the three shareholders. After the equity transfer is completed, Nangang shares and Xinxin Mining Group will hold 49% and 51% stake in the golden Huang Zhuang mining respectively.

Jin Huang Zhuang mining industry was established in September 30, 2006. As of March 31, 2010, the assets of the gold mine were 599 million 316 thousand and 300 yuan and the shareholders' equity was 120 million yuan. As of November 30, 2009, the value of all rights and interests of shareholders of gold mine was estimated to be 434 million 304 thousand and 500 yuan. There are two gold and gold mines and hazhuang mines in the gold mining area. The total reserves are 95 million 518 thousand and 100 tons, and the recoverable reserves are 52 million 218 thousand and 700 tons. The main types of coal are 1/3 coking coal, anthracite and lean coal.

The gold Huang Zhuang coal mine is part of the Sun Zhuang coalfield. There are 84 million 120 thousand tons of reserve reserves on the three sides of the East, West and south. The gold mine is now in the construction stage, started in April 2007, and has completed the main shaft, auxiliary shaft, air shaft and most auxiliary facilities in March 2010. Hazhuang mine is in the detailed investigation stage, and does not have the initial design conditions. It needs further investigation. After the upgrading of resource level, the preliminary design will be carried out.
According to the evaluation report, as at November 30, 2009, the value of mining rights assessed by the gold mine was 375 million 438 thousand and 700 yuan, and the prospecting right value of hazhuang mine was 199 million 42 thousand yuan.

The company said that the gold mining industry is currently in the construction period (Golden Huang Zhuang mine) and the detailed survey period (Hao Zhuangkuang). After the project is released, it will become a new profit growth point of the company. According to Huang Zhuang mine, the annual output of 900 thousand tons per year and the coal purchasing cost of the company in March 2010 were pushed back to the pit price. The annual net profit of the gold mining industry is about 240 million yuan. At the same time, coking coal mainly comes from Shanxi, and the cost of logistics is about 140 yuan / ton. The gold and Huang Zhuang mining industry has convenient transportation and better logistics conditions, and its logistics cost of coal transportation to the company is about 70 yuan / ton.

　　 Http://www.3158.cn/list/fz/? Site=sjfzxm