HK Stock Market Move | CSMALL(01815) rose nearly 17% and is planning to change its name to Everest Gold. A breakthrough was made in the exploration of the gold mine in Shannan City, Tibet under its umbrella.

CSMALL (01815) rose by nearly 17% again, as of the time of writing, rose by 15.97% to HK$1.38, with a turnover of HK$40.45 million. In addition, CSMALL's controlling shareholder CHI SILVER GP (00815) rose by over 4% during trading. On the news front, CSMALL previously announced its intention to change the company's Chinese dual foreign name from "CSMALL Group Limited" to "Zhu Feng Gold Group Limited." The renaming is on one hand to demonstrate the group's long-term focus on gold-related business operations in China, and on the other hand to reflect the group's entry into gold-related mineral exploration activities near Mount Everest in the Himalayas. It is worth noting that CSMALL's subsidiary, Tibet Long Tianyong, holds an exploration permit in Shannan City, Tibet with an area of 28.88 square kilometers. The report shows that several gold mineralized zones and gold deposits have been discovered in the area, with an estimated inferred ore volume of about 2.1 million tons, a gold metal amount of about 5,800 kilograms, and an average gold grade of about 2.77 grams/ton. It is preliminarily anticipated that the potential gold metal amount in the Shan Nan exploration area can reach about 20 to 25 tons, demonstrating the potential for a large gold deposit.