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Taung Gold International Limited ( (HK:0621) ) has provided an update.
Taung Gold International Limited has announced a further delay in sending a shareholder circular related to a very substantial acquisition involving an engineering, procurement and construction contract for Phase 1 of its Jeanette Gold Project, as the company and its main contractor, MCC, continue to refine the mining plan and financing arrangements. The updated project timetable shows all key phases of the Jeanette Project—financing, mine construction and gold production—pushed back by one year, with financing now targeted between the third quarter of 2025 and the second quarter of 2026, construction from the third quarter of 2026 to end-2028, and production from 2029 to 2050; the company is holding off on costly Basic Design work until firm funding is secured and is simultaneously in discussions with other PRC state-owned contractors, underscoring ongoing uncertainty around project execution and financing that could affect timelines and stakeholder expectations.
More about Taung Gold International Limited
Taung Gold International Limited is a Bermuda-incorporated company listed in Hong Kong that focuses on the development of gold mining projects, notably the Jeanette and Evander projects in South Africa, and engages engineering, procurement and construction contractors to advance these large-scale mining developments.
Average Trading Volume: 8,851,027
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.11B
For an in-depth examination of 0621 stock, go to TipRanks’ Overview page.