News Articles for Hanking Gold Mining

Focus has told shareholders to take no action in response to an unsolicited takeover from Theta Gold, which is looking to win over investors mulling funding options for the long-dormant Coolgardie mine.

The creditors of Gascoyne Resources have approved a deed of company arrangement (DOCA) recommended by its administrators, ahead of two competing late proposals.

Contractor NRW Holdings has decided to back a proposed deed of company arrangement by the administrators to Gascoyne Resources after negotiating an increased upfront debt repayment of $7 million in cash.

The administrators of Gascoyne Resources have recommended creditors support the planned deed of company arrangement for the gold miner rather than an 11th hour alternative from China's Hanking Gold Mining.

UPDATED: Focus Minerals has opted to continue negotiating with Horizon Minerals over the sale of its Coolgardie gold project, despite Hong Kong-listed Hanking Gold Mining submitting an alternative offer.

Australia outperformed most other jurisdictions as a destination for Chinese direct investment in 2017 despite a fall in flows and declining confidence in the country as a safe location for capital, according to KPMG.

After selling its Southern Cross gold operation last year, Chinese-owned Hanking Gold Mining has made a takeover proposal for Primary Gold worth $37.5 million.

The Chinese company angling to buy a 50 per cent stake in the Kalgoorlie super pit has reportedly dropped the $US1.3 billion bid due to more rigid Chinese controls on capital outflows, while its bid to buy Southern Cross gold mine owner Hanking Australia has been completed.

Chinese conglomerate Shandong Tyan Home has acquired its second gold mine in Western Australia, reaching an agreement to buy the Southern Cross Gold operation in the Yilgarn for $330 million.

Watpac Civil & Mining has been awarded $89.3 million in contracts in the gold mining and road infrastructure sectors, with the largest being with Chinese-owned company Hanking Gold Mining.

Gold is a rare bright light in the mining industry, with major changes during the past two years to be followed by the opening of multiple new mines and more M&A deals. Click through to find the special report, which ranks WA producers, and looks at Gold Corp, executive pay, and new gold projects.

The strong rise in the Australian dollar gold price has encouraged gold companies to press ahead with low-cost mine developments, despite uncertainty over royalties.

Western Australia's newest gold producer, Hanking Gold Mining, expects to lift production to 100,000 ounces in 2015 after approving development of a new underground mine in partnership with local company Pit N Portal Group.

Construction and mining services company Watpac has won a contract to provide services to Hanking Gold Mining's Cornishman pit at its Southern Cross operation.

West Perth-based Coalspur has reaped $9.4 million following the exercise of options by a number of investors, including its largest shareholder.

Gold miner St Barbara has sold its mothballed Southern Cross mining operation in WA to a Chinese company for $22.5 million in cash, as a Malaga-based company profits from the deal.