HK Stock Market Move | EVEREST GOLD(01815) rises over 10% again. The company plans to raise nearly HK$400 million for exploration of two mines in Tibet.

EVEREST GOLD (01815) rose by more than 10%, with a cumulative increase of over 30% in the past four trading days. As of the time of writing, it increased by 7.92% to 2.59 Hong Kong dollars, with a trading volume of 324.206 million Hong Kong dollars. In terms of news, EVEREST GOLD previously announced that it plans to issue a total of 248 million subscription shares at a subscription price of 1.61 Hong Kong dollars per share, representing a discount of approximately 19.50% compared to the closing price of the previous trading day. The net proceeds of this fundraising are approximately 397.975 million Hong Kong dollars, with the funds to be mainly used for exploration and survey expenses for the mines in Shannan and Xigaze in Tibet. The remaining 20% will be used for working capital, with the aim of improving the self-sufficiency of raw materials and meeting the demand for resource development in the context of rising gold prices.