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Lingbao Gold Group Company Ltd. Class H ( (HK:3330) ) has provided an announcement.
Lingbao Gold Group has provided additional details on its planned subscription for a 50% plus one share equity interest in a target company that owns the Simberi gold mine in Papua New Guinea. The consideration of about AUD370 million was set after arm’s length negotiations and is below the appraised value of the stake, representing a discount viewed as beneficial to the Group and its shareholders.
The board considers the price fair and reasonable, citing the target’s extensive gold and sulphide resources, existing mine infrastructure, and two adjacent exploration licences with resource expansion potential. Management expects long-term strategic benefits and synergies between the Group’s integrated gold operations and the target’s assets, while noting that uncertainties around sulphide resource development and licence extension have been factored into the valuation and discount rate.
The most recent analyst rating on (HK:3330) stock is a Buy with a HK$24.00 price target. To see the full list of analyst forecasts on Lingbao Gold Group Company Ltd. Class H stock, see the HK:3330 Stock Forecast page.
More about Lingbao Gold Group Company Ltd. Class H
Lingbao Gold Group Company Ltd. is an integrated gold mining enterprise based in China, primarily engaged in gold mining, smelting and refining. The Group focuses on developing and operating gold resource projects, leveraging its capability to integrate mining assets and infrastructure to expand its resource base and strengthen its position in the global mining sector.
Average Trading Volume: 8,603,557
Technical Sentiment Signal: Buy
Current Market Cap: HK$32.57B
See more insights into 3330 stock on TipRanks’ Stock Analysis page.