Hunan Gold shares surge after large deposit found in China
The Geological Bureau of Hunan Province said on Thursday that it had detected more than 40 gold veins containing an estimated 300 tons of the precious metal.
China’s Sichuan Hanlong Group made a bid to buy out the shares it doesn’t already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion).
Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.
