Movement Alert|LINGBAO GOLD Rises 5.74% in Regular Trading, Interim Results Review Approaching Amid Gold Price Strength

Market Focus08-21 09:43

On August 21, LINGBAO GOLD rose 5.74% in regular trading, trading at HKD 24.64 per share, with turnover of HKD 138 million. The stock continues its upward momentum ahead of a key board meeting scheduled for August 26.

On the news front, the company's board will convene on August 26 to review interim results and consider a dividend distribution. A prior profit alert indicated net profit of approximately RMB 9.5 billion to RMB 10.5 billion for the first half, representing year-over-year growth of approximately 42% to 57%. Additionally, the company's Xinjiang Habahe Huatai subsidiary reported a major exploration breakthrough, with gold metal resources surging from 13.20 tonnes to 53.94 tonnes, an increase of over three-fold. The resource report was prepared by SRK Consulting under JORC standards.

The broader gold sector also provided support, with spot gold recently breaking above USD 4,300 per ounce. Within the Gold sector, ZIJIN GOLD INTL rose 3.3%, SD GOLD rose 5.46%, ZHAOJIN MINING rose 0.95%, CHINAGOLDINTL rose 2.92%, and CHIFENG GOLD rose 4.9%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment