China Hanking (03788.HK) announced at noon that it will sell its Australian gold mine and use some of the proceeds for dividends. In the afternoon, the stock price rose by 1.03 yuan, up 17% at one point, reaching a new high in a month. It is now reported at 0.92 yuan, up 4.55%, with a turnover of 5.376 million shares and a total capital of 5.1719 million yuan.

The company announced the sale of Primary Gold, its Australian gold mining company, to Inner Mongolia Huineng Coal and Power Group for a price of 0.3 billion Australian dollars, plus environmental bonds of 3.1166 million Australian dollars. The transaction is expected to be completed within 12 months, and the company expects to generate unaudited revenue of about 0.15 billion Australian dollars from the transaction. About two-thirds of the net proceeds from the sale of shares will be used to become a sustainable gold production company, including but not limited to the growth of gold resources and ore reserves in the Cygnet gold mining project, licensing, and mine development; the remaining one-third will be used for dividends. (CY/K)

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