On October 22, LINGBAO GOLD fell 5.32% in Regular Trading, trading at HK$16.91, with turnover of HK$106 million.
The move coincided with broad weakness across Hong Kong gold stocks, with ZIJIN GOLD INTL down 6.98%, ZHAOJIN MINING down 5.92%, CHIFENG GOLD down 5.75%, SD GOLD down 4.78%, and CHINAGOLDINTL down 4.57%.
A recent company-specific event also remains in focus: LINGBAO GOLD completed signing for the acquisition of the remaining stake in the Simberi gold mine from St Barbara through its wholly owned subsidiary for about A$410 million, equivalent to about RMB1.993 billion. Earlier company filings indicated the deal involves Tabar Islands Holdings Pty Ltd and would make the target an indirect wholly owned unit after completion, subject to conditions.
Its latest interim results showed adjusted net profit of RMB670 million for the first half, up 50.36% year on year, but operating cash flow fell about 79% to RMB405 million, a backdrop that has kept market attention on funding consumption following the sizeable acquisition.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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