GT GOLD (08299) rose 8% to HK$0.54, with a turnover of HK$21.0496 million. The increase comes as precious metal prices rebound, with spot gold surpassing the $4,700 per ounce mark, driven by optimism over potential peace talks between the United States and Iran. Notably, in March of this year, GT GOLD announced the acquisition of a mature gold mining asset in Ningshan County, Shaanxi Province. The company plans to acquire the entire issued share capital of the target company, Changsheng United Investments Limited, from the seller, Cathay Gold Investment Holdings Limited, for a total consideration of HK$585 million. Upon completion of the transaction, the target group will become a direct wholly-owned subsidiary of GT GOLD and will indirectly hold an 80% stake in the project company. Its financial performance, assets, and liabilities will be consolidated into the company's financial statements. Additionally, at the end of last year, GT GOLD announced that it had submitted an updated application to the Stock Exchange of Hong Kong for a transfer of listing to the Main Board, in accordance with Chapter 9B of the Main Board Listing Rules. Analysts believe that for a high-growth company like GT GOLD, a successful transfer to the Main Board could be a critical step in unlocking its valuation potential. It is expected that GT GOLD, with its strong fundamentals, may attract more institutional investment, allowing its intrinsic value to be fully reflected through both earnings growth and valuation re-rating.
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