Lingbao Gold jumps on plan to buy Australia's St Barbara mining unit

Lingbao Gold

10/12/2025 05:17

** Chinese gold producer Lingbao Gold Group 3330.HK jumps 10.7% to HK$18.68, highest since November 21

** Stock set for biggest one-day pct rise since October 2

** Australia's St Barbara SBM.AX said on Wednesday Lingbao Gold to buy 50% stake in its unit St Barbara Mining for A$370 million ($245.50 million) in cash

** Lingbao Gold says it will beneficially hold 50% + 1 share of equity interest in St Barbara Mining upon completion of deal

** Adds deal will help increase its resource base, strengthen its competitiveness in mining sector, expand its production scale

** St Barbara shares jump 9.4%

** YTD, Lingbao Gold surges 541.9%, SBM soars 147.8%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))