Molybdenum News Center

The stop of molybdenum copper project decreased HTC’s shares

Due to the stop of molybdenum copper project, HTC shares plunge at 7.52 yuan, down 6.12% on July 4.

Announcement shows that on July 3, Sichuan Hongda molybdenum copper wholly-owned subsidiary of HTC shares received Shifang city government notification require the molybdenum copper metal deep processing resources comprehensive utilization project to stop the construction of the project. Notice: "After the molybdenum copper project groundbreaking ceremony held the city some people do not understand, does not support and a strong reaction. To maintain the city's overall social stability after the government decided your company molybdenum copper project with immediate effect to stop the construction."

As for the impact of the company, the people above said, molybdenum and copper project just set up on June 29, therefore there is no other losses, the future progress of the project is also depending on the communication, the company will timely disclosure of progress situation.

The data show that the molybdenum copper project for HTC shares being planned to fix increase raise investment projects. HTC shares intended to set price of not less than 11.34 yuan / share and issue not more than 404 million shares, raising more than 45 billion yuan of funds for molybdenum copper project construction and supplemental liquidity. The Shifang City Economic Development Zone, molybdenum copper project implementation plans a total investment amounted to 10.188 billion yuan. The project is to raise funds plan to invest the amount of 3.958 billion yuan, the overall scale of construction of the 40,000 tons of molybdenum (metal) / year, 400,000 tons of copper cathode / year. The overall progress of the project development is divided into two, the construction period is 2 years. According to the feasibility study report prepared by the professional organizations, the project has reached the final design production capacity of the year after the average sales income (including tax), 34.685 billion yuan, total profit of 1.843 billion yuan, net profit of 1.382 billion yuan.

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