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whitetiger 06-Dec-2010 10:53 AM
Post Type: Public Public
Glen Bradford offers some clarity on the JADA story, per conversations with the company:In... (#4775) In Response to original message: #4731 posted by on 01-Dec-2010 11:39 AM

Glen Bradford offers some clarity on the JADA story, per conversations with the company:

In January 2008, the Company transferred its ownership in its woodcarving operations, which had been its sole business operation, and agreed to pay RMB 60 million (at that time, approximately $8.8 million) to XiKai Mining. In return, the Company received the Exclusive Jade Distribution Rights, which enable it to purchase 90 percent of the raw jade produced by XiKai’s SheTai mine at a fixed price for five years, subject to adjustment every five years thereafter. 

The company  poinst out that the referenced information used by the author of this article is from a personal blog where anyone can put anything on it without taking responsibility. The blog is not about them.

 

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