Grand Ocean Advanced Resources' Unit to Extend 36 Million Yuan Shareholder's Loan

MT Newswires Live

2024-10-04

Grand Ocean Advanced Resources' (HKG:0065) unit Big Wish Global will provide a 36 million yuan shareholder's loan to Thaisan Jiujiu Investment Laos Trade, a Friday bourse filing said.

Big Wish Global acquired a 52% stake in Thaisan Jiujiu Investment Laos Trade under an amended agreement in August.

The loan will be used to repay funds granted by the sellers to Thaisan Jiujiu Investment Laos Trade for machinery and the construction of infrastructures of a copper mine.

Shares of the coal miner closed over 11% higher on Friday.

Price (HKD): $0.12, Change: $-0.015, Percent Change: -11.11%

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