Business

China Natural Resources Inc (NASDAQ: CHNR) Speaks about the Acquisition of Precise Space-Time Technology

China Natural Resources Inc (NASDAQ: CHNR) has agreed to channel $16.1 million in a deal that will see it acquire Precise Space-Time Technology. It was recently that an independent valuation firm estimated the value of Precise Space-Time Technology. China Natural Resources Inc buys off Precise Space-Time Technology at a discounted rate of 20%.

Precise Space-Time Technology is a good buy

Precise Space-Time Technology has accomplished a lot over the years. For example, its subsidiaries happen to own about 51% equity interest in Shanghai Onway Environmental. China Natural Resources Inc exudes confidence in its latest move, terming the purchase step in the right direction. It continues exploration activities geared towards mining substances such as silver, lead, and other metals. Most of its current activities are in the Inner Mongolia Autonomous Region of China. It is somewhat sensitive to all communities living nears its mining areas and has been advocating for their safety and wellbeing. 

China Natural Resources Inc regulates its mining operations in such a way that it ensures minimal environmental degradation. The Chairman of the Company, Mr. Wong Wah On Edward, notes significant change that continues to be witnessed in the rural sewage treatment industry. Therefore, it considers its latest move good for shareholders who expect to benefit from the high returns emanating from its ventures. 

Mr. Wong’s perspective

The leader opines, “Through the acquisition of Precise Space-Time Technology, we are entering the attractive environmental protection business, which we believe will further strengthen our long-term growth opportunities. We expect to directly benefit from the Precise Space-Time Technology team’s experience, supply chain and customer relationships and valuable market insights. We believe that demand for comprehensive environmental protection solutions is on a sustained growth trajectory given the global need for more effective environmental solutions.”

Mr. Wong considers Precise Space-Time Technology’s business as matching his company’s strategic goals in both the healthcare and the mining sectors. He says he will lead the company to undertake more meaningful business activities and build a good rapport with the local communities.

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