Hong Kong Stock Moves: LYGEND RESOURCE Surges Over 3% Before Noon After Full Production Milestone at Obi Project

Stock News12:06

LYGEND RESOURCE (02245) saw its shares climb more than 3% before noon, trading at HK$13.98 with a gain of 2.87% and turnover of HK$7.7288 million.

On August 5, the company announced that all production lines of the KPS project, which is phase two of the RKEF project, officially reached designed capacity on August 1, 2026, achieving full production. The RKEF project, jointly invested by the company with an Indonesian partner on Obi Island, consists of two phases. The KPS project, part of phase two, includes 12 production lines with an annual design capacity of 185,000 metal tonnes of nickel pig iron.

The full production of the KPS project marks that all production lines of the Obi project have officially entered a full-capacity operational stage. The company now has and can stably achieve a large-scale production capacity of 400,000 metal tonnes of nickel per year. With the full ramp-up of the Obi project, the company's overall scale benefits are further unlocked, laying a solid foundation for deepening cost reduction, optimizing resource allocation, and enhancing core competitiveness. This development is expected to strongly drive the steady improvement of the company's profitability and industry influence.

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