BUZZ-China Hanking jumps on plan to sell mining assets in Australia's Northern Territory

Reuters07-05

** Shares of mining group China Hanking Holdings Ltd

jump as much as 17% to HK$1.03

** Stock last up 5.7%, on course for the biggest pct gain since April 10

** Co. says its unit plans sale of Primary Gold, which holds co's gold exploration and gold mine development business and assets in the Northern Territory of Australia, to a third party Huineng Gold Pty Ltd for about A$300 mln ($201.81 mln)

** Co. expects to record A$150 mln gain from the deal which will also allow it to focus resources on exploration, permitting, and feasibility studies for development of Cygnet gold project in Western Australia

** Hang Seng Commerce & Industry Index slips 0.4% and Hang Seng Index eases 0.9%

** Stock up 16.4% YTD

($1 = 1.4865 Australian dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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