Huan Hsin seeking new lease of life as vanadium miner to get off watch-list

SINGAPORE (Mar 6): Huan Hsin Holdings is morphing from a manufacturer of electronics and electrical components into a vanadium mining company.

Huan Hsin is acquiring a 99.99% stake in Huangshan Zhongtian Weiliang Mining Co for $1.06 billion from Jade Merit Developments. Of this amount, $60 million will be paid in cash. The remaining $1 billion will be paid by an allotment of consideration shares at 3.3 cents each.

Shares in Huan Hsin Holdings last traded at 2.6 cents each on Friday before trading was halted on Monday for the announcement.

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