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An announcement from China Hanking Holdings Ltd. ( (HK:3788) ) is now available.
China Hanking Holdings Limited has secured works approval from Western Australia’s Department of Water and Environmental Regulation to dewater the high-grade Copperhead underground gold mine at its Cygnet gold project, enabling the construction of an evaporation pond on a historic tailings storage facility to manage water pumped from underground. The low-cost dewatering solution is described by management as a key milestone for advancing underground mine development and accessing the southern orebody, which is not yet in the production plan, and is expected to support decline development, reduce drilling costs, and facilitate expansion and upgrading of gold resources and reserves, thereby potentially enhancing value for shareholders as the company continues to work with regulators on remaining approvals.
The most recent analyst rating on (HK:3788) stock is a Hold with a HK$3.50 price target. To see the full list of analyst forecasts on China Hanking Holdings Ltd. stock, see the HK:3788 Stock Forecast page.
More about China Hanking Holdings Ltd.
China Hanking Holdings Limited is a resources company with interests in gold mining through its subsidiary Hanking Gold Limited, which owns 100% of the Cygnet gold project in Western Australia. The project comprises the high-grade Copperhead and Golden Pig underground gold mines and the Corinthia open-pit gold mine, with a combined JORC-compliant resource of 2.07 million ounces of gold at an average grade of 2.42 grams per tonne, positioning the group as a player in the Australian gold sector.
Average Trading Volume: 3,452,734
Technical Sentiment Signal: Buy
Current Market Cap: HK$7.73B
Find detailed analytics on 3788 stock on TipRanks’ Stock Analysis page.