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Ping An Securities: The pricing utility of gold as a currency is prominent and the copper-gold ratio has been distorted in the past two years.
Ping An Securities believes that the recent trend of copper-to-gold ratio is distorted. The current copper valuation is relatively low, and copper prices are expected to undergo upward correction.
Wanguo Mining (03939.HK) plans to acquire a 20.22% stake in Xiangfu Jinling for HKD 730 million.
On August 9th, Gelonhui reported that on August 9th, 2024, the company signed a sale and purchase agreement with Golden Crane and Prominence Investment. Accordingly, the company has conditionally agreed to acquire and Golden Crane and Prominence Investment have conditionally agreed to sell sales shares (representing 20.22% of the equity of the target company, Xiangfu Jinling Company) for a consideration of approximately HKD 0.73 billion. The consideration will be offered by the company at a price of HKD 8.12 per share.
Express News | Wanguo International Mining - Deal for HK$732.6 Mln
Express News | Wanguo International Mining Group Ltd - Acquisition of 20.22% Interest in Axf Gold Ridge
Hong Kong stocks surge | Wanguo Mining (03939) rose more than 3%, expected to increase its net profit by up to 75% in the first half of the year. It plans to rename itself to "Wanguo Gold Group".
Wanguo Mining (03939) rose over 3%. As of press time, it has risen by 3.27% to HKD 7.57 with a turnover of 56.567 million HKD.
Wanguo Gold Group Expects Up to 70% Hike in H1 Profit
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