Shandong Gold Mining Co., LTD said on September 30, 2020, it would buy Hengxing Gold Holding Co., LTD in an all-stock deal worth around HK$3 billion ($387 million) that gives it control of the Gold Mountain mine in China’s Xinjiang region. The Shandong Gold will take Hong Kong-based Hengxing private after acquiring all the target’s equity by issuing up to 159.48 million Hong Kong shares, or 3.68% of Shandong Gold’s current share capital, according to a Shanghai Stock Exchange filing. BAW was retained by Shandong Gold to carry out the third-party independent technical review of the mining property. The end result of technical report complies with NI 43-101 code and meets the requirement of Hongkong Exchange for M&A. Our review not only identify the risk and value of the project, but also facilitates comprehensive understanding of a project’s technical and geographic context.
BAW acts on the Shangdong Gold acquisition of Hengxing Gold
