Western Region Gold (SHA:601069) expects its net profit attributable to shareholders for the first quarter to skyrocket between 1,797% and 2,261% year on year to between 450 million yuan and 560 million yuan, according to a Shanghai bourse filing on Wednesday.
The company booked attributable profit of 23.7 million yuan, or 0.0258 yuan per share, a year earlier.
The anticipated rise is attributed to higher sales in gold products from a year earlier, as well as a rise in gold and electrolytic manganese prices.
The gold mining company's shares jumped 10% during the morning trade.
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