Dacheng Pesticide tries Mining after poor 2010 earnings
Mar. 31, 2011
In the meantime, Dachang Pesticide will sell all of its existing assets for 380 million yuan, with the remaining 15.2 billion yuan for acquisition will be raised by issuing 178 million shares to nine designated shareholders at 8.52 yuan per share.
Hualian Mining currently has iron ore reserve volume of 82 million tons, with exploitable volume of 50 million tons.
Dacheng Pesticide reported a net loss of 71.12 million yuan in 2010, with sales revenue of 788 million yuan, up 4.63 percent from 2009.
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