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[Longbai Group: Signed an Intention Agreement for Overseas Ore Sand Project Cooperation] On September 23, Longbai Group (002601.SZ) announced that it had signed an intention agreement with the joint-stock company Image Resources, and planned to invest approximately 160 million Australian dollars (approximately 766 million yuan) in cash and assets to acquire approximately 80% of the Durack and Yandanooka ore sand projects held by its wholly-owned subsidiaries. This transaction still needs to complete due diligence, evaluation and regulatory approval, and there are uncertainties.
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