On the evening of January 25th, China Molybdenum Co., Ltd. and Hunan Gold Corporation Limited successively released positive announcements concerning gold mine acquisitions.
The market leader with a market cap of hundreds of billions has completed a gold mine acquisition. On the evening of January 25th, China Molybdenum Co., Ltd. announced that it had completed the settlement for the acquisition of the previously disclosed Brazilian gold mine project on January 23rd. This merger and acquisition took only 40 days, and the asset is expected to achieve a gold production of 6 to 8 tons this year.
The announcement revealed that China Molybdenum Co., Ltd. disclosed on December 15, 2025, its plan to acquire a 100% interest in three gold mine assets (comprising four mines) from Canada's Equinox Gold Corp. in Brazil—the Aurizona Gold Mine, the RDM Gold Mine, and the Bahia Complex—for a maximum of USD 1.015 billion. The acquired gold mine assets possess substantial resources, containing gold resources of 5.013 million ounces with an average grade of 1.88 grams/ton, and gold reserves of 3.873 million ounces with an average grade of 1.45 grams/ton.
China Molybdenum Co., Ltd. stated that these gold mine resources are sizable, with well-established infrastructure and mature mineral processing technology, boasting strong profitability. The acquisition is expected to immediately contribute to the company's production and profits upon completion, with a short anticipated investment payback period and favorable economic benefits.
As of the market close on January 23rd, China Molybdenum Co., Ltd. shares closed at 22.76 yuan per share, with a market capitalization of 486.9 billion yuan.
Hunan Gold plans to acquire two gold companies, constituting a major asset restructuring. Hunan Gold announced that the company intends to acquire a 100% equity stake in Gold Tianyue held by the transaction counterparties, Hunan Gold Group and Tianyue Investment Group, and a 100% equity stake in Zhongnan Smelter held by Hunan Gold Group, through the issuance of shares. It also plans to issue shares to no more than 35 specific investors to raise supporting funds.
Public information shows that Gold Tianyue was established on June 23, 2021, with a registered capital of 800 million yuan. Its business scope includes the mining and processing of gold ores; investment in, development, and utilization of gold, non-ferrous metals, rare earth metals, non-metallic minerals, and related resource products, along with their production and sales; and technical R&D, consulting, and services related to mining and processing technologies and engineering. Among its shareholders, Hunan Gold Group holds a 51% stake, and Hunan Tianyue Investment Group Co., Ltd. holds a 49% stake. Its core assets are the exploration and mining rights for the Wangu Gold Field in Pingjiang County, Hunan Province.
The Wangu Gold Field is located in Pingjiang County, Hunan Province, situated in the northeastern part of the Jiangnan Ancient Land metallogenic belt. In November 2024, the Hunan Geological Institute announced a major breakthrough in the exploration of the Wangu Gold Field: more than 40 gold veins were discovered at depths shallower than 2000 meters, with the highest grade reaching 138 grams/ton. The cumulative resources in the core area amounted to 300.2 tons, and experts predict potential reserves exceeding 1000 tons at depths shallower than 3000 meters, with an estimated value of 600 billion yuan.
The announcement indicates that this transaction is expected to constitute a major asset restructuring and a connected transaction, but it does not constitute a back-door listing. As of the signing date of the preliminary plan, the audit and evaluation work for the target companies have not been completed, and the final transaction price has not been determined.
The company's shares will resume trading at the market open on Monday, January 26, 2026. Prior to the trading halt, Hunan Gold's share price was 22.97 yuan per share, with a latest market capitalization of 35.894 billion yuan.
Concurrently on the evening of January 25th, Hunan Gold disclosed its 2025 annual performance forecast, expecting to achieve a net profit of 1.27 billion yuan to 1.608 billion yuan, a year-on-year increase of 50% to 90%. It also expects a net profit excluding non-recurring gains or losses of 1.305 billion yuan to 1.653 billion yuan, a year-on-year increase of 50% to 90%. The rise in performance is primarily attributed to the year-on-year increase in the selling prices of the company's gold, antimony, and tungsten products during the reporting period.
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