Huaibei Green Gold Shares Surge Nearly 7% in Morning Trade, Piling Up Over 180% Gains Year-to-Date

Deep News
Aug 14

Self-selected stocks for hot sectors, data centers, market centers, capital flows, and simulated trading clients are in focus. Huaibei Green Gold Co (02450) saw its shares climb nearly 7% in the morning session, adding to a year-to-date surge of over 180%. As of press time, the stock was trading at HK$9.03, up 6.93%, with a turnover of HK$19.45 million.

In June this year, Huaibei Green Gold Co announced that the group is planning to explore a business collaboration for a marble rock mine project located in Henan Province, China. The board believes the target mine, situated in Tongbai County, Nanyang City, Henan Province, could generate some synergies with the group's existing operations.

The announcement stated that the group is in preliminary discussions with Yuxin Mining regarding the potential partnership. The target mine boasts abundant resource reserves and a diverse range of product types, including marble colored sand, block materials, powder materials, and construction stone. Additionally, the mining area benefits from convenient transportation, a simple surrounding environment, and low extraction costs.

The group expects to engage in the project through a diversified cooperation model, which could bring about new business growth opportunities for the company.

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