Wildsky Res Inc (HWTHF)

[rmarc]

Silvercorp unit buys 2 Chinese miners.
Mon Aug 22, 2011 12:49pm



Aug 22 (Reuters) - Canadian miner Silvercorp Metals Inc said its majority unit agreed to buy a 90 percent stake in two Chinese mining companies for $4.3 million in cash.

The unit, Henan Found Mining Co, will also pay $6.1 million to pay off the outstanding debt of Zhongxing Mining Co Ltd and Chuanxin Mining Co Ltd, both based in China's Henan Province.

Zhongxing's XBG mine located in Luoyang City, Henan, has high-grade silver-gold-lead-zinc deposits, while Chuanxin's assets include a 350 tonnes-per-day floatation mill.

Chuanxin has an environmental permit to construct a 1,000 tonnes per day floatation mill as well......

Of course the Skyocean Chinkies could have bought these properties but these Chinkies are proving to be as bumbling & incompetent as the Barclay/Beley disaster team.