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 development opportunities in the sector.”
Tianci, through its subsidiary Roshing, operates an asset-light ocean freight forwarding model across the Asia-Pacific region, including Japan, South Korea and Vietnam.
Trading Metrics, Technical Analysis
Tianci has a market capitalization of $4.99 million, with a 52-week high of $22.05 and a 52-week low of $1.26.
The Relative Strength Index (RSI) of CIIT stands at 30.68.
CIIT posted second-quarter revenue of $3.88M against an earnings per share of -$0.14 in March.
The small-cap stock has dropped 93.48% over the past 12 months.
Price Action: CIIT closed the regular session up 0.73% at $1.38, according to Benzinga Pro.
Currently, the stock is positioned close to its 52-week low.
Benzinga’s Edge Stock Rankings show that CIIT is exhibiting a negative price trend across all time frames.
Photo Courtesy: Rneaw on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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