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Lingbao Gold Group Company Ltd. Class H ( (HK:3330) ) has issued an announcement.
Lingbao Gold Group Company Ltd. has announced a significant investment by subscribing to 50% + 1 share of equity interest in a target company for AUD370 million. This acquisition includes the Simberi gold mine in Papua New Guinea, which holds substantial gold resources and reserves. The transaction is classified as a discloseable transaction under Hong Kong’s Listing Rules, indicating its importance to the company’s strategic growth. The mine’s lease is recommended for extension until 2038, ensuring long-term operational stability, which could enhance Lingbao Gold’s market position and offer potential benefits to its stakeholders.
The most recent analyst rating on (HK:3330) stock is a Hold with a HK$16.00 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 a joint stock limited company incorporated in the People’s Republic of China, focusing on the gold mining industry. The company is involved in the extraction and processing of gold, and it aims to expand its market presence through strategic investments.
Average Trading Volume: 8,362,870
Technical Sentiment Signal: Buy
Current Market Cap: HK$22.14B
For an in-depth examination of 3330 stock, go to TipRanks’ Overview page.