HK Stock Market Move | WANGUO GOLD GP(03939) rose nearly 6% at the close, with the announcement that the resource volume has significantly increased. There may still be potential for increased reserves in the future.

Wanguo Gold GP(03939) rose nearly 6% in the final trading session, reaching a high of HK$12.46, approaching the historical high of HK$12.54. As of the time of writing, it is up 5.61% at HK$12.42, with a trading volume of HK$154.214 million. On the news front, on December 27, Wanguo Gold released an updated report on the resources and reserves of the Jinling Gold Mine. As of July 31, 2024, the gold resource has increased from 103 tons to 227 tons, a growth of 121.2%, and the gold reserves have increased from 37 tons to 40 tons, a growth of 8.3%. The company stated that due to the current unchanged pit design, the reserves only reflect additional drilling and changes in the border gold grade since 2018, and the pit design and production plan have not been updated. Minsheng Securities pointed out that Wanguo Gold GP currently owns 88.2% equity in Jinling Gold Mine. Since the restart of production at the Jinling Gold Mine, the mine's production operation has been very good, and there is still great potential for expansion and improvement in management in the future. This update on resource reserves has laid the foundation for the company's future broad growth space. With the gradual ramp-up of current production capacity and further expansion in the future, combined with the current upward trend in gold prices, the company is optimistic about the continuous growth of its gold production volume in the future, anticipating a rise in both quantity and price.