This was released on Monday and may shed some light on what is...

This was released on Monday and may shed some light on what is happening - not sure whether good, bad or indifferent. (courtesy of Dr Who from Share Trader).

Zijin Mining Delays Overseas Acquisition
Monday 2010-04-19 18:40

Zijin Mining (601899, 2899.HK) has put its acquisition of Indophil Resources on hold, reports Securities Times, citing a company announcement.

Zijin Mining and Indophil had signed a preliminary acquisition agreement on November 29, 2009. Zijin Mining had planned to acquire a 90 percent stake in Indophil for 3.368 billion yuan.

There were market rumors that the acquisition was delayed due to an investigation launched by the China Securities Regulatory Commission (CSRC) on the company at end March.

According to an unanmed analyst, one possible reason for the investigation was the abnormal stock price fluctuation that occured when Zijin Mining acquried KazakhGold Group on July 2009.