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Major shareholder receives go-ahead to off-load 28.99% stake in Lingbao Gold

Lingbao GoldCo. Ltd. said July 20 that Lingbao State-owned Assets Operation LLC receivedapproval to divest223,300,000 noncirculating shares, or 28.99% of Lingbao's total shares, toShenzhen Da Ren InvestmentManagement Co. Ltd. and Chengdu Tian Xin Yang Gold Co. Ltd.

Lingbao State-owned Assets holds 296,840,620 noncirculatingshares in Lingbao Gold, or around 38.54% of the total.