Tianci International Inc. (NASDAQ:CIIT) shares surged 41.59% in after-hours trading on Tuesday to $1.95 after the Hong Kong-based logistics company disclosed a strategic expansion into African mineral resources.
Zimbabwe MOU Signals Bold Diversification Play
Tianci, after the bell, announced a non-binding strategic cooperation Memorandum of Understanding (MOU) with Zimbabwe-based mining and trading company Greypole Mineral Resources. The agreement targets joint exploration, extraction, and the acquisition of approximately 500 hectares of gold concessions in the Gwanda region and 1,500 hectares of chromium concessions in Zvishavane.
No formal partnership agreement has been signed.
Chairman Gao Shufang said the company will implement a “phased and prudent strategy — from mining rights acquisition to technical extraction” to capture what he called “leading …