HK Stock Market Move | DRAGON MINING (01712) surged 26% intra-day to hit a new high, with the expected post-tax net profit for last year to increase by 3.8 times compared to the previous year.

DRAGON MINING (01712) rose more than 26% at one point, hitting a high of 9.88 Hong Kong dollars, a historic high. As of the time of drafting, it is up 22.58%, trading at 9.5 Hong Kong dollars, with a turnover of 74.35 million Hong Kong dollars. On the news front, on the evening of February 5th, DRAGON MINING announced its profit forecast, expecting to achieve a post-tax net profit of about 58 million to 62 million Australian dollars for the fiscal year ending December 31, 2025, compared to a post-tax net profit of 12.9 million Australian dollars in the same period last year, an increase of 3.5 to 3.8 times. The announcement stated that the increase in post-tax net profit is mainly due to the higher average gold price during the reporting period; the Vammala plant achieving higher ore grade and gold recovery rate, increasing gold production; and the positive contribution from processing gold-bearing ore from the Botnia Exploration Ab, a neighboring operator in Sweden, at the Svartliden plant.