china deal?, page-5

Another article translated.

http://finance.ifeng.com/stock/ssgs/20111226/5332289.shtml

Shanghai Construction [ 8.78 to 5.15% share it research report ] (600 170) Notice, a wholly-owned subsidiary of Shanghai Foreign Economic Holdings Ltd intends to acquire a gold mining company in Australia Charles (CHALICE GOLD MINES LTD., referred to as "Charles's" ) The State of Eritrea Zara indirectly owned mining company (ZARA MINI NG SHARE COMPANY, referred to as "Zara Mining") 60% stake.

Purchase price includes $ 80 million (about 508 million yuan), and proved reserves of the mine not be identified in consultation with mining interests in another for the amount, the extra amount of due diligence to be completed and confirmed the mining interests of the rest of Zara Project After the fair value determined by negotiation, no agreement as negotiated by an independent assessment of rating agencies to determine the mining industry, but in the end price will not exceed $ 20 million.

According to the announcement, by Charles Zara mining companies in Eritrea indirectly initiated the establishment of mining Co., Ltd., mainly responsible for the Koka gold mining business, Zara currently has 147 square kilometers of mining exploration and mining rights (including proved reserves The total length of the mineralized zone 650 Mike Ka), with Koka gold mining rights for 18 years.

Zara the other shareholders are ENAMCO mining holds 40% stake in Zara mining. The company's shareholders have agreed to Charles Zara mining its 60% owned equity transfer to the Shanghai Foreign Economic.

Company said that if the share acquisition, the successful gold mining companies to get a stable investment income, and will receive about 10 billion yuan in mining, construction of mines.

Zara mining company intends to have 18 years of mining rights in Africa Eritrea Zara mine Koka (KOKA) gold mine for a comprehensive due diligence and investigate whether decisions on the basis of the share acquisition. (Dan Li Yang)