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Sino Prosper nixes LOI to dispose of 70% stake in Dongduimiangou gold mine

Sino Prosper (Group) Holdings Ltd. terminated a nonbinding letter of intent with a potential investor for the disposal of its indirect stake in Aohanqi Xinrui En Industry Co. Ltd.

The parties agreed earlier in the year to extend the deadline for a formal agreement to Aug. 31, 2020.

Sino Prosper, which holds a 70% stake in the Dongduimiangou gold mine in China through Aohanqi Xinrui, did not provide any reasons for the Dec. 31 deal termination.