Yulong Mining announced on October 13 that the company intends to acquire no less than 67% equity of Shaanxi Shanjin Mining Co., Ltd. in cash, in order to obtain the mining right of Loufanggou Vanadium Mine project in Shangnan county, Shaanxi province, which is the core asset of subject company. The preliminary valuation of the Subject’s 100% equity shall not exceed RMB195 million (USD27.2 million).
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