China Hanking Surges Over 11% in Intraday Trading as JORC Gold Resources Expand to 5.54 Million Ounces

Deep News01-12

China Hanking (03788) surged more than 11% during the trading session. At the time of writing, the stock was up 7.29%, trading at HK$4.12, with a turnover of HK$26.4966 million.

China Hanking announced that, following the completion of the Phase 1 Pre-Feasibility Study for the Cygnet gold project and the updated Final Feasibility Study for the Mt Bundy gold project, an independent assessment by SRK China in accordance with listing rules confirmed a 53.1% increase in the combined ore reserves, reaching 2.62 million ounces. Furthermore, the JORC-compliant gold resources increased to 5.54 million ounces.

It is noteworthy that during Monday's early trading, both spot gold and COMEX gold futures broke through $4,600 per ounce, setting new historical highs.

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