HK Stock Market Move | Breakthrough in gold exploration in Shannan City, Tibet, CSMALL (01815) opened 46% higher, while CHI SILVER GP (00815) opened 19% higher.

CSMALL (01815) and CHI SILVER GP (00815) announced a trading halt last Friday and resumed trading higher this morning. As of the time of writing, CSMALL rose by 46.34% to HKD 0.6, while CHI SILVER GP rose by 19.3% to HKD 0.34. On the news front, CSMALL and CHI SILVER GP jointly announced the acquisition of Jiangxi Letong New Materials Co., Ltd. (which owns 100% equity of Tibet Longtianyong Mining Co., Ltd.) by China Silver and CSMALL in August 2024. Tibet Longtianyong holds a mineral resources exploration permit of 28.88 square kilometers in Shannan City, Tibet. The announcement stated that in the second half of 2024, Tibet Longtianyong appointed an independent third-party geological expert to conduct the exploration, which was completed in December 2024. The exploration report revealed the discovery of multiple gold mineralization zones and bodies in the area, with an estimated inferred ore volume of about 2.1 million metric tons, gold metal volume of about 5800 kilograms, and an average gold grade of about 2.77 grams per ton. It is preliminarily expected that the foreseeable gold metal volume in the Shannan exploration area could reach about 20 to 25 tons, demonstrating the potential for a large-scale gold mine.