GULF RESOURCES <GRE> TO HAVE GAIN ON STOCK SALE Gulf Resources and Chemical Corp said it has sold 9,534,633 shares of <Imperial Continental Gas Association> for 720 pence a share, or 68.6 mln stg, in a private transaction for a pretax gain of about 19.6 mln dlrs. Gulf Resources said it still owns 6.7 mln shares of Imperial Continental, or a 4.6 pct interest, and continues to study various alternatives.