According to Zhitong Finance APP, Wanguo Gold Group (03939) surged over 14% in the afternoon session. As of press time, the stock was up 13.34% at HK$12.83, with a turnover of HK$534 million.
On the news front, on November 4, spot gold extended its intraday gain to 2%, returning above $4,000 per ounce. U.S. media predicted on the evening of the 3rd local time that the Democratic Party would regain the majority in the House of Representatives, and subsequently predicted that the Democratic Party would also reclaim control of the Senate, retaking Congress. Expectations for Trump's subsequent large-scale fiscal expansion have cooled, and upside inflation risks have somewhat eased, directly opening up room for a gold price rebound.
Guolian Minsheng Securities previously noted that the foundations for the ball mill and semi-autogenous grinding mill equipment at the company's core asset, the Jinling Gold Mine, have been fully completed. Installation of the main ball mill equipment is 80% complete, and installation of the semi-autogenous grinding mill is 50% complete, with installation work progressing steadily as planned. Once the expansion is completed, the Jinling Gold Mine is expected to achieve an annual gold output of 15 tonnes in the longer term.
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