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BRIEF-MMG Ltd Announces Sale Of Assets Associated With Sepon Mine

Published 21/06/2018, 08:40 pm
© Reuters.  BRIEF-MMG Ltd Announces Sale Of Assets Associated With Sepon Mine
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June 21 (Reuters) - MMG Ltd 1208.HK :

* UNIT TO SELL MMG LAOS HOLDINGS TO CHIFENG JILONG GOLD MINING FOR $275 MILLION

* UNIT MMG AUSTRALIA TO ENTER DEAL WITH CHIFENG JILONG GOLD MINING, MMG LAOS AND LANE XANG MINERALS TO PROVIDE TRANSITIONAL SERVICES TO LXML

* AS A RESULT OF SHARE SALE, SEES NET PROFIT BEFORE TAX OF UPTO US$10 MILLION IN CO'S 2018 FINANCIAL YEAR

* SHARE SALE FORMS PART OF COMPANY'S WIDER PLAN TO OPTIMISE ITS MINING ASSET PORTFOLIO

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