Jihai Resources (02489) rose more than 16% at the end of the session, to a high of HK$0.65, a record high. As of press release, it rose 14.29% to HK$0.64, with a turnover of HK$2.1964 million.
The Zhitong Finance App learned that Jihai Resources (02489) rose more than 16% at the end of the session, to a high of HK$0.65, a record high on the market. As of press release, it rose 14.29% to HK$0.64, with a turnover of HK$2.1964 million.
According to the prospectus, Jihai Resources is a gold exploration, mining and processing company that sells gold ingots made from gold concentrate processed by the company, mainly Au99.95 gold ingots. According to the Frost & Sullivan report, in terms of mine production, Jihai Resources is the third largest gold mining company in Shandong Province in 2022, with a market share of 2.6% (in terms of mine production), but in terms of gold production, the total market share of the two major participants is about 78.3%.
According to reports, Jihai Resources operates two active gold mines, namely the Songjiagou Open-Pit Mine and the Songjiagou Underground Mine. They are strategically located in one of Yantai's three major gold-forming belts, the Muping-Rushan Gold Metallurgical Belt, which are about 400 meters apart. In addition, the company also operates a beneficiation plant with an annual ore processing capacity of about 2 million tons. The plant is 4 km from the company's mine.