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China Hanking Holdings Ltd. ( (HK:3788) ) has provided an update.
Hanking Gold International Limited has begun construction of an access road, a 258-worker mine camp and related infrastructure at its Mt Bundy Gold Project, about 100 kilometres south-east of Darwin in Australia’s Northern Territory. The project holds 3.47 million ounces of gold resources and 1.88 million ounces of reserves under the JORC (2012) Code, all within existing mining leases.
An updated definitive feasibility study forecasts average annual production of 150,000 ounces of gold over the first 10 years of an initial 17-year mine life, with the company targeting first gold output in the first quarter of 2028, when Mt Bundy is expected to become the territory’s second-largest gold mine. The development is projected to create more than 400 construction jobs, deliver significant economic benefits to local contractors and governments, and marks a major milestone in Hanking Gold’s push to advance Mt Bundy into a long-life, profitable operation and solidify its transition into a mid-tier gold producer.
More about China Hanking Holdings Ltd.
Hanking Gold International Limited is a gold mining company incorporated in the Cayman Islands and listed in Hong Kong, focusing on the development of gold resources. Its key asset is the Mt Bundy Gold Project in Australia’s Northern Territory, which holds substantial gold resources and reserves and is central to the company’s strategy to become a mid-tier gold producer.
Average Trading Volume: 6,107,364
Technical Sentiment Signal: Buy
Current Market Cap: HK$7.06B
For detailed information about 3788 stock, go to TipRanks’ Stock Analysis page.