On September 28, SD GOLD fell 5.3% in regular trading, trading at 18.96 HKD/share, with turnover of approximately 52.43 million HKD, extending the sharp selloff that began earlier in the week following a major downward revision to its production guidance.
On the news front, the company announced on September 24 that its board approved an adjustment to the full-year gold production target from no less than 49 metric tons to 36-38 metric tons, representing a year-on-year decline of approximately 11-13 metric tons versus the 48.89 tons produced last year — a reduction exceeding 20%. The company cited ongoing project construction activities that reduced active mining faces and materially impacted output, while industry-wide safety incidents in the first half also weighed on production. Net profit is expected to be negatively affected accordingly.
Additionally, BlackRock reduced its holdings in the company by approximately 3.71 million H-shares on September 21 through an off-market transaction, lowering its long position from 6.05% to 5.67%, adding to institutional selling pressure.
The broader gold sector also traded weaker, with LINGBAO GOLD down 3.4%, ZIJIN GOLD INTL down 2.87%, CHIFENG GOLD down 2.41%, and ZHAOJIN MINING down 2.34%, reflecting subdued sector sentiment partly driven by a stronger U.S. dollar and hawkish Fed signals.
(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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