HK Stock Movement | WANGUO GOLD GP (03939) Rises Nearly 7% in Early Trading as Its Jinling Mining Poised to Become World-Class Gold Mine

Stock News12-22 10:56

WANGUO GOLD GP (03939) surged nearly 7% in early trading, reaching a 6.1% gain at press time to HKD 7.65, with a turnover of HKD 92.94 million. Industrial Securities highlighted the company's superior growth potential and profitability in a research report. The primary growth driver is Shandong Jinling Mining Co.,Ltd., where the Solomon gold mine's processing plant has initiated a new 10-million-ton annual expansion plan. Supported by Zijin Mining's engineering capabilities, the mine's production capacity is expected to rise from the current 3.5 million tons per year to 13.5 million tons upon completion in 2028. Annual gold output is projected to reach 15 tons, positioning it as a world-class gold mine.

Notably, WANGUO GOLD GP recently completed a 1-for-4 stock split, reducing the board lot size from 2,000 shares to 500 shares. The company stated that the split would lower the trading price per share and the market value per board lot. Given current market conditions, the enhanced liquidity is expected to provide greater flexibility for investors and support the company's future growth.

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