India, March 19 -- Shares of China Natural Resources, Inc. (CHNR) are climbing around 27 percent on Thursday morning trading after the company announced a non-binding Letter of Intent with Feishang Group Limited to acquire all shares of a wholly owned subsidiary of Feishang for $37 million-$40 million.
The company's shares are currently trading at $4.17 on the Nasdaq, up 27.25 percent. The stock opened at $5.00 and has climbed as high as $5.80 so far in today's session. Over the past year, it has traded in a range of $3.16 to $8.20.
The acquisition is expected to strengthen the company's core mining operations through AI and build a scalable growth platform in cutting-edge AI and IoT technologies.
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