Tianshan Goldfields Limited has recently sold its Chinese portfolio of assets, including the Gold Mountain Project, to  Xiamen Hengxin Group Co Ltd for US$22.5 million.

Subsequently, Tianshan and fellow ASX listed Australian gold company Corvette Resources Ltd (ASX: COV) have agreed in principle to enter into a conditional merger implementation agreement to merge the two companies by way of a Scheme of Arrangement. For more information please refer to the ASX announcement dated 17 November 2009. 

Tianshan Goldfields, which is listed on the Australian Securities Exchange (ASX) and headquartered in Perth, Western Australia, is led by an accomplished Board and Management team.