Core Viewpoint - China Rare Earth Holdings Limited (罕王黄金) announced the acquisition of a total of 6.63% equity in Cygnet Gold for approximately AUD 16.6 million, which will result in the company holding 100% ownership of Cygnet Gold, a company that operates a gold project with approximately 2.06 million ounces of gold resources [1][2]. Group 1 - The company’s subsidiary, Watkins Gold, has entered into a share purchase agreement to acquire 2.75% of Cygnet Gold from Qiu Family and Golden Resource for AUD 6.9 million [1]. - Watkins Gold also signed another agreement with existing minority shareholders of Cygnet Gold to acquire an additional 3.88% for AUD 9.7 million [1]. - Following these acquisitions, Watkins Gold will own 100% of Cygnet Gold, which will become a wholly-owned subsidiary of China Rare Earth Holdings [2]. Group 2 - The company believes that the acquisition of Cygnet Gold will not have any significant financial impact on the group [2]. - Qiu Family and minority shareholders of Cygnet Gold plan to subscribe for new shares in China Rare Earth Holdings at a price of HKD 2.62 per share, totaling 20.9 million shares [2][3]. - After the completion of the subscription, the total issued shares of China Rare Earth Holdings will increase from 2,521,656,383 to 2,542,556,383, resulting in a dilution of the company's ownership from 91.19% to 90.44% [3].
中国罕王(03788.HK)附属拟1.66亿澳元收购Cygnet Gold剩余股权 将全资持有206万盎司金矿资源