Jinduicheng Molybdenum Co., Ltd. said that its board of directors has approved the proposal to bid for 49% stake in Jinsha Molybdenum Co., Ltd. being put up for sale by Anhui Geological Investment Group (AGIG) at the Anhui Assets and Equity Exchange (AAEE) at a price of CNY 4 billion. AGIG is planning to introduce up to four potential investors and each has an option to acquire 10% - 16.5% stake. On April 3, 2012, the total assets of Jinsha Molybdenum were CNY 7.825 billion and the debt was zero, according to an appraisal report offered by a third company.