Gulf Resources Announces the Completion of the Flood Prevention Project [Yahoo! Finance]
Gulf Resources, Inc. (GURE)
US:NASDAQ Investor Relations:
gulfresourcesinc.com
Company Research
Source: Yahoo! Finance
of bromine, crude salt and specialty chemical products in China, today announced that it has completed its approximately $50 million flood prevention project recently. This project was implemented for safeguarding its bromine facilities. While implemented to protect its bromine facilities and prevent potential flooding that could harm the wells, aqueducts and crude salt pans at the Company's plant, the Company expects two long-term benefits: 1. Cost Savings Over the past six years, the Company has spent approximately $47 million repairing its facilities after two separate typhoons. This amount is close to the total cost of the flood prevention project. The Company believes the flood prevention project may mitigate the risks and associated expenses related to future storms-induced flooding and prevent major flooding in the future, ultimately saving money in the long run. 2. Enhanced Utilization Through the flood prevention project, the Company believes it may be able to drill
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GURE
Sec Filings
- 4/19/24 - Form 8-K
- 4/16/24 - Form 8-K
- 3/28/24 - Form NT
- GURE's page on the SEC website