Minco Gold Announces Sale of the Gold Bull Mountain Project
July 25, 2014 (Source: Marketwired) — Minco Gold Corporation (TSX:MMM) (NYSE MKT:MGH) (FRANKFURT:MI5) (“Minco Gold” or the “Company”) is pleased to announce that the Company’s wholly owned subsidiary Minco Mining (China) Co., Ltd has entered into an agreement with a private Chinese individual (the “Purchaser”) to sell the Company’s Gold Bull Mountain Project located in Hunan Province, China for total consideration of RMB 7 million (approximately CDN$1.2 million). The Company has received the first installment payment (30% of the total) from the Purchaser.
Minco Gold’s President and CEO Ken Cai commented: “The sale of the Gold Bull Mountain project reflects the Company’s focus on its core exploration properties in Gansu, China and its continued efforts to dispose of its other non-core assets and to diversify its investment outside China.”
Get our daily investorintel update
About Minco Gold
Minco Gold Corporation (TSX:MMM) (NYSE MKT:MGH) (FRANKFURT:MI5) is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties. The Company owns a 51% equity interest in the Changkeng Gold Project. The Company also owns a 100% interest in the Longnan projects with 10 exploration permits, located in Gansu Province, China; as well as 11 million shares (approx. 18.45%) of Minco Silver Corporation. For more information on Minco Gold and its properties, please visit the website at www.mincomining.ca.
Forward Looking Statements:
The preceding includes forward looking statements, including plans for the further extension of our exploration program. Actual plans and results of exploration activities may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual plans to differ materially are the Corporation’s ability to raise future financing and other risk factors listed from time to time in our SEC reports and our reports filed with Canadian securities regulators. We disclaim any intent to update forward looking information except to the extent required by applicable securities laws.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>