Kiu Hung International Holdings Limited (00381) said the company and Yunnan Dechang Trading Limited (the vendor) entered into a memorandum of understanding (the MOU) in relation to a mutual intention on a possible acquisition by the company (or its wholly-owned subsidiary) of some equity interest in Qinglong County Civil Affairs Welfare Gold Mining Limited (the target company) from the vendor.
The target company operates a gold mining project for a valid period from May 2015 to May 2025. Its annual production capacity amounts to 100,000 tons with a mining area of 2.325km2 and a mining depth of 1,531m-1,225m.
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