China Natural Resources, Inc. - CHNR STOCK NEWS

China Natural Resources Inc. (CHNR) reported its full-year 2023 results, highlighting a decrease in administrative expenses, an increase in other income, a decrease in fair value gain on financial instruments, and a net loss reduction. The company's focus on exploration activities, the disposition of Shanghai Onway Environmental Development Co., , and a direct placement of common shares to institutional investors are seen as strategic moves to strengthen the company's position and build value for shareholders.

China Natural Resources, Inc. closed a registered direct placement of $3.27 million of common shares at $2.20 per share, issuing 1,487,870 shares to institutional investors. The company also issued warrants for up to 1,115,903 shares at $3.00 per share. Net proceeds will be used for general corporate purposes.

China Natural Resources, Inc. (CHNR) has announced a securities purchase agreement with institutional investors for a direct placement of $3.27 million of common shares at $2.20 per share. The company will issue 1,487,870 common shares and warrants for up to 1,115,903 common shares. The proceeds will be used for general working capital purposes.

China Natural Resources, Inc. (NASDAQ: CHNR) has announced the sale of all outstanding shares of Precise Space-Time Technology Limited to Feishang Group Limited for approximately RMB95,761,119 in cash, subject to upward post-closing adjustment. Precise Space-Time Technology owns a 51% equity interest in Shanghai Onway Environmental Co., Ltd., engaged in rural wastewater treatment equipment provision and engineering services in China.

China Natural Resources Inc. announces 8% annual revenue growth and 59% reduction in net loss for 2022. The company completed due diligence for the strategic acquisition of mining rights to a lithium mine in Zimbabwe. Financial results show increased revenue, decreased cost of sales, and decreased selling and distribution expenses.

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.