China Hanking jumps on plan to sell mining assets in Australia's Northern Territory

Hanking Gold International

05/07/2024 08:29

** Shares of mining group China Hanking Holdings Ltd
 3788.HK  jump as much as 17% to HK$1.03
    ** Stock last up 5.7%, on course for the biggest pct gain
since April 10
    ** Co. says its unit plans sale of Primary Gold, which holds
co's gold exploration and gold mine development business and
assets in the Northern Territory of Australia, to a third party
Huineng Gold Pty Ltd for about A$300 mln ($201.81 mln)
    ** Co. expects to record A$150 mln gain from the deal which
will also allow it to focus resources on exploration,
permitting, and feasibility studies for development of Cygnet
gold project in Western Australia
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.4%
and Hang Seng Index  .HSI  eases 0.9%
    ** Stock up 16.4% YTD  


($1 = 1.4865 Australian dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))