Welcome to our dedicated page for China Natural Resources news (Ticker: CHNR), a resource for investors and traders seeking the latest updates and insights on China Natural Resources stock.
China Natural Resources, Inc. operates as a British Virgin Islands holding company focused on exploration and mining. The company, through operating subsidiaries in the PRC, is engaged in the acquisition and exploitation of mining rights in Inner Mongolia, including exploration for lead, silver and other nonferrous metals at the Wulatehouqi Moruogu Tong Mine.
CHNR news commonly covers operating and financial results, exploration spending, mine-rights activity, capital-structure actions, shareholder matters, Nasdaq listing compliance, and governance updates. Company communications also address its review of opportunities in natural resources, healthcare, and other non-natural-resource sectors.
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China Natural Resources, Inc. (CHNR) has successfully completed its due diligence and is set to acquire Williams Minerals (Pvt) Ltd, which holds a mining permit for a lithium mine in Zimbabwe. The company will pay a US$35 million deposit via promissory notes to the sellers, Feishang Group Limited and Top Pacific (China) Limited, by April 21, 2023. The total potential consideration for the acquisition could reach US$1.75 billion, based on future independent technical reports assessing lithium resources. However, the completion of this transaction is contingent on several conditions, including the issuance of these reports and the determination of lithium quantities. The acquisition is expected to enhance CHNR's long-term growth strategy in the natural resources sector.
China Natural Resources (NASDAQ: CHNR) announced a 5-for-1 share combination effective April 3, 2023, to increase its share price to meet the $1.00 minimum bid price requirement for continued Nasdaq listing. All shares will be automatically converted, with fractional shares rounded up. This adjustment will not change shareholders' overall interest in the company. The company currently has approximately 8,189,617 shares outstanding following the combination. CHNR is also pursuing the acquisition of Williams Minerals, a lithium mine in Zimbabwe, for up to $1.75 billion, expected to close in Q2 2023.
China Natural Resources (NASDAQ: CHNR) has signed a definitive agreement to acquire Williams Minerals, a company with a mining permit for a lithium mine in Zimbabwe. The acquisition includes a maximum consideration of US$1.75 billion, with payment split between cash, promissory notes, and restricted shares. CHNR aims to secure 50% of the payment in restricted shares, potentially at a discount to market prices. Ownership will vest regionally from 2024 to 2026, pending technical reports and financial settlements. Completion of the acquisition is uncertain and depends on several conditions.
China Natural Resources Inc. (NASDAQ: CHNR) reported positive financial results for the six months ended June 30, 2022. Revenue grew to CNY16.07 million (US$2.40 million) from CNY8.22 million in 2021, driven by increased construction contracts. Gross profit margin surged to 45.43%, significantly up from 13.52% a year earlier. The company returned to profitability with a net income of CNY3.67 million (US$0.55 million), compared to a loss of CNY29.84 million in 2021. The firm maintains a healthy balance sheet with US$7.6 million in cash at June 30, 2022, supporting future growth initiatives.
On October 25, 2022, China Natural Resources, Inc. (NASDAQ: CHNR) was granted an additional 180-day extension by Nasdaq to comply with its minimum bid price requirement, now due by April 24, 2023. To meet this requirement, CHNR must maintain a closing bid price of at least $1.00 per share for ten consecutive trading days. The company operates primarily in wastewater treatment in China and explores mining rights for nonferrous metals.
China Natural Resources Inc. (NASDAQ: CHNR) reported its financial results for the year ending December 31, 2021. Revenue declined to approximately CNY18.74 million (US$2.95 million) from CNY42.50 million (US$6.69 million) in 2020, primarily due to the completion of a wastewater treatment project. The company faced a net loss of CNY54.97 million (US$8.65 million), a shift from a net profit of CNY22.92 million (US$3.61 million) in the previous year, attributed to fair value losses on investments. The company plans to enhance operations at the Moruogu Tong Mine and is evaluating new business opportunities.