The total consideration payable by Henan for the acquisition of SX Gold is approximately $22.75m.
Henan has already made a payment of $19.6m, with the balance due upon completion of the share transaction and the transfer of the mining and exploration permits to the company.
SX Gold operates the XHP silver-gold-lead-zinc mine in Henan Province, China, that includes a 14 sq km mining permit and a 500-tonne-per-day flotation/CIL mill.
The company also owns the HGDG gold exploration permit of 4.45 sq km and a 51% interest in the PLS gold exploration permit covering three square kilometres.
