Movement Alert｜SD GOLD Falls 3.5% at Open, Production Target Cut by Over 20% Compounds Institutional Selling Pressure

Market Focus09-28 09:21

On September 28, SD GOLD fell 3.5% at open, trading at HK$19.3 per share, with turnover of HK$3.054 million, extending its recent downtrend.

On the news front, the company announced on September 24 a significant downward revision of its full-year gold production target from not less than 49 metric tons to 36-38 metric tons, representing a year-over-year decline of approximately 11-13 tons compared to actual production of 48.89 tons last year — a reduction exceeding 20%. The company cited that ongoing project construction has reduced active mining faces, materially impacting production capacity. Industry-wide safety inspections following peer mining accidents in the first half also contributed to the shortfall. Net profit is expected to decline accordingly.

Additionally, BlackRock reduced its H-share holdings by approximately 3.71 million shares on September 21 through an off-exchange transaction, lowering its long position from 6.05% to 5.67%, adding to negative market sentiment.

The broader gold sector traded lower, with LINGBAO GOLD down 2.83%, ZIJIN GOLD INTL down 2.17%, CHINAGOLDINTL down 2.16%, and CHIFENG GOLD down 1.85%.

(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.

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