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home / articles / GURE - What's Going On With Gulf Resources (GURE) Stock? | Benzinga

GURE - What's Going On With Gulf Resources (GURE) Stock? | Benzinga

Gulf Resources Inc.

Gulf Resources, Inc. (NASDAQ:GURE) shares are trading lower by 10.4% to $1.08 during Friday’s session. The stock is trading lower, pulling back following Wednesday’s strength, after the company announced the signing of agreements to acquire crude salt fields.

What Happened?

Subsidiary Shouguang Hengde Salt Industry agreed to purchase crude salt fields in China for RMB280,762,000 (about USD $38,619,257). The acquisition involves 5 parcels totaling 5,141,000 square meters (approximately 1,270 acres).

80% of the payment (RMB224,609,600 or approximately USD $30,895,406) will be made in cash upon signing, with the remaining 20% paid in company shares within three months, post-inspection. ...

GURE) Stock?>Full story available on Benzinga.com
Stock Information
Company Name: Gulf Resources Inc.
Stock Symbol: GURE
Market: NASDAQ
Website: gulfresourcesinc.com
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