On August 20, Hanking Gold released its interim results for 2026, revealing that the first half of the year saw the company log revenue of RMB 912 million. Notably, the development of its flagship Mt Bundy gold project progressed steadily during the period, with the access road now extended to the processing plant site, the workers' camp civil works completed, and installation underway for the 258-room mine accommodation facility.
In July 2026, the company placed the order for the ball mill—the most expensive and longest-lead-time equipment item in the project. By August, the EPC and EPCM contracts for the 5.5 million tonnes-per-annum processing plant were awarded to two established Australian contractors, affirming that the final feasibility study's capital expenditure and timeline remain aligned with the company's development plan. With the plant site now cleared and construction officially underway, Hanking Gold has taken a significant step toward its target of first gold production in the first quarter of 2028.
Meanwhile, the Cygnet gold project has completed its pre-feasibility study and secured underground mining approval in June 2026. The company has since initiated the tender process for the Copperhead underground development, aiming to commence drilling promptly to expand the project's resource and reserve base. Mine construction is scheduled to begin in the second half of 2027, with first gold pour expected before the end of 2029.
As of June 30, 2026, Hanking Gold held JORC-compliant gold resources of approximately 5.54 million ounces (about 172 tonnes) and gold reserves of roughly 2.62 million ounces (about 82 tonnes). Of this total, the Mt Bundy project accounts for around 3.47 million ounces of resources and 1.88 million ounces of reserves, while Cygnet holds 2.07 million ounces of resources and 734,000 ounces of reserves.
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