Wanguo Gold hits over 5-month high as Zijin Mining buys shares

Wanguo Gold

23/09/2024 03:09

** Shares of mining group Wanguo Gold Group Ltd  3939.HK 
jump 8.3% to HK$10.02, their highest since April 12
    ** Stock on track for its biggest one-day rise since May 20
    ** Company says it has agreed to sell 165.6 mln new shares,
or 15.28% of the enlarged share capital, to a unit of Zijin
Mining  2899.HK , raising HK$1.38 bln ($177.12 mln) to fund
exploration and development project of Gold Ridge Mine in the
Solomon Islands with remainder for working capital
    ** Wanguo Gold will sell the new shares to Zijin Mining's
wholly-owned Gold Mountains (H.K.) International Mining Co Ltd
at HK$8.33 apiece, representing 9.95% discount to Friday close
of HK$9.25 per share
    ** Hong Kong shares of Zijin Mining slips 0.3% while
Shanghai stock  601899.SS  gains 0.7%
    ** Hang Seng Commerce & Industry Index  .HSNC  adds 0.9%,
material index  .HSCIM  rises 1.1% and Hang Seng Index  .HSI 
climbs 0.7%
    ** Stock of Wanguo Gold up 127.8% YTD  


($1 = 7.7912 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))