SMM7, March 10 / PRNewswire-FirstCall-Asianet /: Tiger Resources will not sell its Congolese mining and exploration assets to Sinomine in Hong Kong for $260 million. Tiger Resources said on Friday that its acceptable terms had not been approved and issued a notice of termination of the deal, including the Kipoi project, the Lupoto project and the La Patience permit mining project. When Tiger Resources announced the sale in January, it said the company was facing "operational and financial difficulties". Although the company is listed on the Australian Stock Exchange, it is currently suspended.
Hong Kong SimoMin is a geotechnical services company based in China, engaged in mineral exploration, mining project investment and other related support services. The company is listed on the Shenzhen Stock Exchange with a market capitalization of more than 530 million.
Cao Yuuqin, (SMM) of Shanghai Colored Network, translated from extranet
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