Wanguo Gold Group (03939) surged over 6% in late trading, reaching a high of 11.06 HKD, setting a new record since its listing. As of press time, it has risen by 6.17%, quoted at 11.02 HKD, with a trading volume of 14.9302 million HKD.
Zhitong Finance APP reported that Wanguo Gold Group (03939) surged over 6% in late trading, reaching a high of 11.06 HKD, setting a new record since its listing. As of press time, it has risen by 6.17%, quoted at 11.02 HKD, with a trading volume of 14.9302 million HKD.
According to the documents disclosed by the Hong Kong Stock Exchange on November 4, on October 30, Zijin Mining Group Co., Ltd. increased its shareholding in Wanguo Gold Group by 0.166 billion ordinary shares, valued at approximately 1.379 billion HKD. After the increase, Zijin Mining Group's shareholding ratio rose from 2.70% to 17.57%. 50% of the proceeds will be used for funding related to the exploration and development project of the Gold Ridge mine in the Solomon Islands, and the remaining 50% of the net proceeds will be used for general working capital.
Minsheng Securities previously pointed out that the company owns three mines: the Yifeng Xinzhuang copper polymetallic mine in Jiangxi, the Gold Ridge gold mine in the Solomon Islands, and the Walege lead-silver mine in Tibet, all rich in resource reserves; the Yifeng mine steadily generates profits, the Gold Ridge gold mine continues to ramp up, and there is significant potential for underground mining expansion in the future, while the exploration and conversion of the Walege lead-silver mine continues to advance. Coupled with the upward trend in copper and gold prices, there is a boom in both quantity and price.