MARKHAM, Ont. — China Nonferrous Metals Exploration Corp. said Monday that it has bought a 14.95 per cent stake in Murgor Resources Inc. (TSXV:MGR).
CNME said it bought 8.1 million shares of Murgor Resources for 10 cents per share in a private placement.
The common shares were acquired by CNME for investment purposes, the company said.
CNME is a Canadian company majority-owned by Chinese shareholders, including Beijing Donia Resources Co.
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Murgor Resources is earning a 100 per cent interest in three deposits, adjacent to the Snow Lake and Flin Flon mining districts of Manitoba, from HudBay Minerals Inc.