Gulf Resources announces $50.5M flood prevention plan after historical typhoon losses

GULF RESOURCES, INC.

Projected cost of $50,497,652; $15,149,296 already disbursed as of Q3 2023.
Prior Typhoon Winbiya (2018) caused $40M+ in damages; Typhoon Lekima (2019) added $6M+.
Plan aims to renovate channels of four rivers in mining area to protect wells, aqueducts and salt pans.
Expected to improve approval odds for reopening factories #2 and #10, and enable new well drilling.
Management cites strong cash position and expects favorable long-term returns despite large outlay.

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