ADD NEW ENERGY Shares Surge Over 13% in Morning Session Following Gold Mining Acquisition Announcement

Stock News10:52

ADD NEW ENERGY (02623) rose more than 13% during the morning session. At the time of writing, the stock was up 8.1%, trading at HK$4.67, with a turnover of HK$4.68 million. The surge follows the company's recent announcement of a strategic investment. In February, ADD NEW ENERGY revealed plans to invest A$39.5 million in Horizon Minerals. Upon completion of the investment, the company will hold approximately 9.95% of the issued share capital of the target company. Horizon Minerals is a mid-sized gold producer based in Australia. This move signifies ADD NEW ENERGY's official entry into the promising gold mining sector, diversifying from its core ilmenite business.

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