---
title: "Lingbao Gold Details Use of HK$770.6 Million Share Placement Proceeds for Overseas Gold Expansion"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283172714.md"
description: "Lingbao Gold Group Company Ltd. has announced the allocation of approximately HK$770.6 million from its recent share placement, primarily for overseas expansion of its gold mining operations. About 65% of the funds, or HK$500.9 million, will be used for expansion at the Simberi gold mine in Papua New Guinea, with completion expected by late 2027. An additional 5%, or HK$38.5 million, is set aside for future overseas mergers and acquisitions of cash-generative gold projects by 2026. This move supports Lingbao Gold's strategy to enhance its global resource base and operational capabilities."
datetime: "2026-04-17T15:09:46.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283172714.md)
  - [en](https://longbridge.com/en/news/283172714.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283172714.md)
---

# Lingbao Gold Details Use of HK$770.6 Million Share Placement Proceeds for Overseas Gold Expansion

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Lingbao Gold Group Company Ltd. Class H ( (HK:3330) ) just unveiled an update.

Lingbao Gold Group has clarified how it will use the roughly HK$770.6 million in net proceeds from its recent top-up subscription of new H shares, earmarking the funds primarily for overseas expansion of its gold mining business and general working capital. The announcement underscores the group’s push to strengthen its global resource base and support ongoing operations.

Around 65% of the proceeds, or about HK$500.9 million, will fund expansion works at St Barbara Mining’s Simberi gold mine in Papua New Guinea, which the company acquired control of in April 2026, with completion and operation targeted for late 2027. A further 5%, or roughly HK$38.5 million, is allocated to future overseas mergers and acquisitions of sizeable, cash-generative gold projects by the end of 2026, reinforcing Lingbao Gold’s capacity to move quickly on cross-border deals and deepen its overseas footprint despite no specific new targets yet identified.

**More about Lingbao Gold Group Company Ltd. Class H**

Lingbao Gold Group Company Ltd. is a PRC-incorporated gold producer focused on exploration, mining, and development of gold resources, with its H shares listed in Hong Kong. The group has been advancing an internationalisation strategy, building a portfolio of overseas gold mining assets to secure long-term resource reserves and sustainable growth.

**Average Trading Volume:** 18,939,384

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$35.95B

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