HK Stock Market Move | GT GOLD (08299) rose more than 7% in the afternoon. The delivery of the Ningxia-Shaanxi gold mine has entered the final countdown, which is expected to greatly boost the company's production and performance.

GT GOLD (08299) rose more than 7% in the afternoon, as of press time, it was up 5.45% to 0.29 Hong Kong dollars, with a turnover of 15.4037 million Hong Kong dollars. On the news front, GT GOLD recently announced the detailed and confirmed acquisition of the assets of the Ningshan gold mine. The target mine has a proven and controlled gold metal content of 699,000 ounces, with an acquisition cost of only about $114 per ounce. The fair value of 100% equity of the target group is approximately 1.13 billion Hong Kong dollars, and GT GOLD will acquire 80% of the equity at a total cost of 585 million Hong Kong dollars, with a discount of about 35%. In the article "GT GOLD (08299) Strategic M&A about to close, New focus on High-Quality Gold Mines, it pointed out that the delivery of the Ningshan gold mine has entered the final countdown and will soon be reflected in GT GOLD's financial data. The announcement clearly stated that the gold mine and the ore processing plant are expected to start trial production next month. The total designed production capacity of the two ore processing plants is 1,500 tons/day, with a potential capacity of up to 2,000 tons/day. After full production, it will greatly increase GT GOLD's gold production and overall profitability. In addition, the mining permit for the Ningshan gold mine was successfully renewed in February this year, valid until February 13, 2032.