On August 14, CHIFENG GOLD rose 3.06% in regular trading, trading at HKD 37.76/share, with turnover of HKD 88.92 million. The gold sector staged a strong rebound, with China Gold International up 13.25%, Lingbao Gold up 4.86%, and Zhaojin Mining up 1.69%.
On the news front, the company previously announced an updated resource estimate for its SND porphyry gold-copper project in Laos, with total resources reaching 360 million tonnes and gold-equivalent metal content of 260 tonnes, representing a 143% increase from the initial estimate. The company also secured a USD 220 million open-pit mining services contract for the Sepon gold-copper mine. Additionally, CHIFENG GOLD forecasts H1 net profit (excluding non-recurring items) of RMB 1.71-1.79 billion, a year-on-year increase of 54%-61%, with interim results to be reviewed by the board on August 28.
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