Key Developments: Gulf Resources Inc (GURE.O)
1.07USD
22 May 2013
$-0.02 (-1.83%)
$1.09
$1.09
$1.13
$1.07
117,240
83,664
$1.82
$0.88
Latest Key Developments (Source: Significant Developments)
Gulf Resources Inc Announces $2 Million Share Repurchase Program
Gulf Resources Inc announced that the Board of Directors have approved a new share repurchase program under which the Company is authorized to purchase up to $2 million of its issued and outstanding shares of common stock from time to time over the next 12 months. The share repurchase program will be funded with the Company's available working capital. Full Article
Gulf Resources Inc Issues FY 2013 Guidance
Gulf Resources Inc announced that for fiscal 2013, it expects total revenue and net income to record approximately $122.8 million and $18.7 million. Full Article
Gulf Resources, Inc. Issues FY 2012 Guidance
Gulf Resources, Inc. announced that for fiscal 2012, it expects total revenue to a range between $114.7 million and $147.3 million and net income to a range between $16.8 million and $30.5 million. Full Article
Gulf Resources, Inc.'s Shouguang City Haoyuan Chemical Company Limited Agrees To Acquire Bromine Manufacturing Assets
Gulf Resources, Inc. announced that its wholly-owned subsidiary Shouguang City Haoyuan Chemical Company Limited (SCHC) has signed an agreement to acquire manufacturing assets involved in bromine production from Liangcai Zhang, an individual resident of the People's Republic of China. Consideration for the asset purchase is approximately $10 million (RMB 63 million) in cash and upon the closing of the transaction, no later than10 days after receiving the satisfactory assessment report, SCHC will acquire the buildings, wells, machinery, equipment, pipelines, and power circuits owned by the sellers, and any warranties associated therewith, located at 3 kilometers west of the Yangkou Village, south of Youyi road in Shouguang City Yangkou Township. The closing of the transaction is subject to certain closing conditions, including a final assessment of the condition of the assets. Full Article
Gulf Resources, Inc. Lowers FY 2011 Guidance-Conference Call
Gulf Resources, Inc. revised fiscal 2011 guidance and now expects revenue between $156 million and $158 million, and net income between $48 million and $49.5 million for fiscal 2011. Full Article
Gulf Resources, Inc. Announces Extension Of Form 10-Q Filing
Gulf Resources, Inc. announced that it will file Form 12b-25 with the Securities and Exchange Commission on August 9, 2011 to extend the filing of the Company's Form 10-Q for the quarter ended June 30, 2011 for up to an additional five calendar days. The Company is filing for an extension due to delays in compiling the required information for the preparation of the financial statements. The extension grants the Company until, August 15, 2011 to file its Form 10-Q. Complying with this deadline deems the Form 10-Q to be timely filed. Full Article
Gulf Resources, Inc. Signs Non-Binding Letter Of Intent With People's Government of Daying County In Sichuan Province
Gulf Resources, Inc.'s Shouguang City Haoyuan Chemical Ltd. Co. announced that it has signed a non-binding Letter of Intent with the People's Government of Daying County in Sichuan Province to explore and develop potential underground brine water resources. The Company expects the cooperation to promote its long-term growth strategy of the Company through access to more bromine and crude salt resources. According to the Letter of Intent, the People's Government of Daying County will help the Company obtain exclusive mining and exploration rights to access brine resources. The Company expects to use cash on hand and cash generated from operations, in combination with debt, to fund the project and does not intend to conduct an equity offering to raise the required capital. Full Article
Gulf Resources, Inc. Initiates Shares Repurchase Plan
Gulf Resources, Inc. announced an update to the Company’s Share Repurchase Plan, which was adopted on September 23, 2010, under which the Company plans to utilize its cash on hand and operating cash flow to repurchase some of its issued and outstanding common shares. As of the market close on June 22, 2011, the Company has acquired 100,500 shares of its common stock through open market transactions. The additional repurchases will be made subject to restrictions on price, volume, timing, applicable legal requirements, and other factors. Full Article
Gulf Resources, Inc. Terminates Cooperation Agreement With East China University of Science and Technology
Gulf Resources, Inc. announced that the Company's subsidiary Shouguang Yuxin Chemical Industry Co., Limited (SYCI) terminated its cooperation agreement with East China University of Science and Technology on June 7, 2011. The decision to terminate the cooperation agreement was mutual and due to successful completion of cooperative research and development tasks by both parties. Under the agreement, East China University of Science and Technology helped the company to develop many bromine related chemical products for SYCI. Full Article
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