HK Stock Movement | WANGUO GOLD GP (03939) Rises Over 5% as Gold Volume and Price Surge Expected to Drive Explosive Profit Growth

Stock News11-24

WANGUO GOLD GP (03939) surged more than 5%, rising 4.62% to HKD 31.7 by the time of writing, with a trading volume of HKD 107 million. The company recently disclosed updates on the resource reserves and development progress of its Jinling Gold Mine. Strategic shareholder Zijin Mining has completed a feasibility study for the mine's expansion project, finalizing a 10-million-ton-per-year expansion plan, significantly enhancing project certainty.

According to Zijin's professional exploration verification, the mine's gold reserves have jumped from 7.34 million ounces (228 tons) announced at the end of 2024 to 367 tons, marking a 61% increase.

First Shanghai's earlier research report noted that amid shifting global macroeconomic conditions and central banks' continuous gold purchases driving prices upward, WANGUO GOLD GP's Jinling Mine holds substantial production growth potential. With rising capacity and higher gold prices, profits are poised for explosive growth. The company's total profit this year is expected to reach RMB 1.2 billion, and after the Jinling Mine reaches full production, profits could climb to RMB 4.5 billion, positioning WANGUO GOLD GP as a standout gold mining stock in the Hong Kong market.

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