HK Stock Market Move | GT GOLD (08299) further rises by over 8% as the strategic acquisition of Ningxia and Shaanxi Mines is nearing completion. The company's existing mines possess strong profit potential.

GT GOLD (08299) rose by more than 8%, reaching a 6.67% increase to HK$0.32 as of the time of writing, with a trading volume of HK$2.25 million. In terms of news, recently, GT GOLD published an announcement further disclosing details of a significant transaction involving the acquisition of two gold mine project companies in Ningshan County, Shaanxi Province. The announcement stated that an independent valuer confirmed the fair value of 100% equity of the target group to be approximately HK$1.13 billion, with GT GOLD acquiring 80% of the equity for a total cost of HK$585 million, representing a discount of about 35%. Furthermore, the target mines have an estimated and controlled gold metal amount of 699,000 ounces, with a calculated acquisition cost of approximately $114 per ounce. In the article "GT GOLD (08299) strategic acquisition to be concluded soon, new gold miner entering high-quality gold mines brings new focus," it was pointed out that in mid-May, GT GOLD disclosed a profit announcement, forecasting a revenue of HK$2.05 billion for the 2026 fiscal year, a strong year-on-year increase of 53%; during the same period, net profit also increased by 53% to HK$145 million. The substantial increase in core financial data indicates that GT GOLD's existing mines have released strong profit elasticity during the gold bullish period. As the Ningshan mine starts operation as planned, this cost-effective, fully licensed mature asset will officially inject new growth momentum into GT GOLD.