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Greater China Tech +38.5%; Madagascar Gold
1104 [Dow Jones] Greater China Tech (8032.HK) soars 38.5% to 18 HK cents on resuming trade;
says it entered into framework agreement to subscribe 20-30% (with option to raise to 40%) equity interest of AEC for US$4 million;
AEC holds 83 exploration licenses, 42 exploration license applications covering total area of over 11,000 sq km in Madagascar.
Says AEC currently targets gold resources though uranium, Bauxite, others also possible.
This latest example of small HK firm (market cap inflated to HK$367 million after rise today) trying to jump onto natural resources bandwagon; perhaps only suitable for punting with stock now off 21 HK cents peak on tiny volume of HK$3.47 million.
1104 [Dow Jones] Greater China Tech (8032.HK) soars 38.5% to 18 HK cents on resuming trade;
says it entered into framework agreement to subscribe 20-30% (with option to raise to 40%) equity interest of AEC for US$4 million;
AEC holds 83 exploration licenses, 42 exploration license applications covering total area of over 11,000 sq km in Madagascar.
Says AEC currently targets gold resources though uranium, Bauxite, others also possible.
This latest example of small HK firm (market cap inflated to HK$367 million after rise today) trying to jump onto natural resources bandwagon; perhaps only suitable for punting with stock now off 21 HK cents peak on tiny volume of HK$3.47 million.
