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Tongguan Gold Group Ltd. ( (HK:0340) ) just unveiled an update.
Tongguan Gold Group Ltd. has agreed to acquire 100% of a mine engineering and construction company that currently serves as one of its key service providers, in a share transaction that will be settled by issuing 110 million new shares under its existing general mandate. The deal, which will make the target a subsidiary and bring its results into Tongguan’s consolidated accounts, is intended to create operational synergies, cut costs, and strengthen the group’s control over mine safety and production processes; it represents about 2.07% of the enlarged share capital and, while small in Listing Rules terms, signals a strategic move to vertically integrate critical mining support functions, subject to the satisfaction of closing conditions.
The most recent analyst rating on (HK:0340) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Tongguan Gold Group Ltd. stock, see the HK:0340 Stock Forecast page.
More about Tongguan Gold Group Ltd.
Tongguan Gold Group Ltd., incorporated in Bermuda and listed in Hong Kong, operates in the gold mining sector. The group focuses on gold production and related mining activities, working with specialised mine engineering and construction service providers to support its operations and enhance safety and efficiency across its projects.
YTD Price Performance: 452.36%
Average Trading Volume: 24,537,673
Technical Sentiment Signal: Buy
Current Market Cap: HK$14.35B
See more data about 0340 stock on TipRanks’ Stock Analysis page.