On May 22, Jiaxin International Resources rose 5.97% in regular trading, reaching HK$75.2 per share, with trading volume of approximately HK$80.37 million.

On the news front, the company previously signed a non-binding memorandum of understanding with Pangaea Mining Limited Partnership Fund (PMF), under which both parties will jointly seek mineral resource development opportunities primarily in the Karaganda region of Kazakhstan, with potential expansion to other Central Asian countries.

Under the MOU, Jiaxin International Resources and PMF hold pre-emptive rights over the entire issued share capital of a special purpose vehicle to be established by PMF. The cooperation targets large and medium-sized porphyry copper-gold deposits, copper-zinc-lead-gold-silver polymetallic mines, and tungsten-molybdenum mines. PMF will be responsible for identifying and screening potential targets in the region, while the company will selectively acquire and incorporate them into its listed company asset portfolio.

Jiaxin International Resources is an investment holding company principally engaged in the exploration, development, and mining of tungsten ore.

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