Gulf Resources Announces Press Release Regarding Acquisition of Salt Fields
Gulf Resources, Inc. (GURE)
US:NASDAQ Investor Relations:
gulfresourcesinc.com
Company Research
Source: GlobeNewswire
SHOUGUANG, China, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources", “we”, or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China today issued a press release related to the purchase of additional land for salt fields and bromine. As previously reported by the Company in its SEC filings, in June 2024, we reached agreements to acquire five salt fields covering a total of 5,141,000 square meters for an aggregate purchase price of RMB 280,762,400. The Company paid 80% in cash and agreed to pay the remaining 20% in stock, with the terms and the pricing of the stock still under negotiation. The Company believes that acquiring these salt fields will allow the Company to increase crude salt production and drill additional bromine wells. In evaluating these acquisitions, management calculated that the cash-on-cash returns may provide a payback within the next four to five years, which they consider a
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News
- Gulf Resources Inc (GURE) Q3 2024 Earnings Call Highlights: Strategic Investments Amid Revenue ... [Yahoo! Finance]Yahoo! Finance
- Gulf Resources Provides Detailed Overview of the Economics of its Bromine Segment [Yahoo! Finance]Yahoo! Finance
- Gulf Resources Announces Press Release Regarding Acquisition of Salt Fields [Yahoo! Finance]Yahoo! Finance
- Gulf Resources Provides Detailed Overview of the Economics of its Bromine SegmentGlobeNewswire
- Gulf Resources GAAP EPS of -$0.33, revenue of $2.24M [Seeking Alpha]Seeking Alpha
GURE
Sec Filings
- 11/19/24 - Form 8-K
- 11/19/24 - Form 10-Q
- 11/14/24 - Form NT
- GURE's page on the SEC website