Shares of GT GOLD (HKEX: 08299) have risen more than 5% in trading. At the time of writing, the stock is up 5.45% to HK$0.29.
The company recently announced its annual results for the period ending March 31, 2026. During the reporting period, the company achieved revenue of HK$1.966 billion, representing a year-on-year increase of 49.62%. Profit attributable to owners of the company reached HK$94.878 million, a significant rise of 42.57% compared to the previous year.
Mining Segment Drives Growth
The announcement noted that the total revenue from the group's mining operations for the year was approximately HK$284.2 million, an increase of about 51.5% over the prior year. This growth in the mining segment's revenue is attributed to higher gold prices and increased production capacity. During the year, the group produced approximately 298 kilograms of gold concentrate, an increase of about 7.56% from the roughly 277 kilograms produced in the preceding year.
Key Acquisition Finalized
In a separate development, GT GOLD issued an announcement on the evening of June 29 regarding the completion of a major transaction to acquire two project companies in Ningshan County, Shaanxi Province. The board announced that all pre-conditions of the agreement have been satisfied, and completion was finalized on June 29, 2026.
Following the completion, the target companies have become direct wholly-owned subsidiaries of GT GOLD, and their financial results will be consolidated into the group's financial statements. The two processing plants involved have a combined designed capacity of 1,500 tonnes per day, with a potential capacity of up to 2,000 tonnes per day. Once fully operational, they are expected to significantly boost GT GOLD's gold production and overall profitability.
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