HUZIJIN@EC2601A(16105.HK)

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HUZIJIN@EC2601A
16105.HK
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Morgan Stanley: Zijin Mining's acquisition of Joint Gold helps achieve the annual production target of 100 tons

Morgan Stanley's report indicates that Zijin Mining plans to acquire 100% of the shares of Allied Gold for CAD 5.5 billion, aiming for an annual production of 11.7 to 12.4 tons by 2025. With the expansion of the Sadiola project and the commissioning of the Kurmuk project, the annual production is expected to reach 25 tons by 2029. Management stated that the all-in sustaining costs of the Sadiola project will be significantly reduced. If the transaction is successful, it will become an important milestone for Zijin Mining to achieve its goal of 100 tons of annual production by 2030, with a target price of HKD 46.1 and a rating of "Overweight."

AASTOCKS·
SH
517520
+0.88%
SH
601899
+5.44%
HK
02899
+4.69%
AASTOCKS·
SH
517520
+0.88%
SH
601899
+5.44%
HK
02899
+4.69%

Hong Kong Market Rises to Near Two-Week High

Hong Kong stocks rose 292 points (1.1%) to 27,059, marking a near two-week high. Financials led the gains with a 2% increase, spurred by Beijing's commitment to enhance financial ties with Hong Kong. Positive sentiment was bolstered by a 0.6% year-on-year growth in China's industrial profits for 2025. However, U.S. futures weakened due to President Trump's tariff hike on South Korean imports. Notable gainers included Zijin Gold Intl. (12.0%) and Minimax Group (10.2%).

Trading Economics·
HK
00100
+10.05%
HK
00HSI
+1.39%
HK
07500
-2.98%
Trading Economics·
HK
00100
+10.05%
HK
00HSI
+1.39%
HK
07500
-2.98%

In "Major Banks," China International Capital Corporation: ZIJIN GOLD INTL's acquisition of United Gold is expected to increase proven and probable reserves by 36%

BOC International released a report stating that ZIJIN GOLD INTL is acquiring United Gold Company at CAD 44 per share, with a total transaction amount of CAD 5.5 billion. This acquisition will increase ZIJIN GOLD's proven and probable reserves by 36%, and gold production is expected to increase by 43% by 2029. The acquisition is expected to generate synergies with ZIJIN GOLD's existing mines in Ghana. BOC International maintains a "Hold" rating on ZIJIN GOLD INTL and a "Buy" rating on ZIJIN MINING

AASTOCKS·
SH
601899
+5.44%
US
AAUC
+3.95%
SH
600547
-0.66%
AASTOCKS·
SH
601899
+5.44%
US
AAUC
+3.95%
SH
600547
-0.66%

PRECIOUS-Gold, silver rise to near record highs on lingering safe-haven demand

Gold and silver prices surged to near record highs due to ongoing safe-haven demand amid geopolitical uncertainties. Spot gold rose 1.1% to $5,068.05 per ounce, while silver increased 6.3% to $110.39 an ounce. U.S. President Trump announced increased tariffs on South Korean imports, contributing to market volatility. The dollar weakened, making gold cheaper for foreign buyers. Zijin Gold plans to acquire Allied Gold for approximately C$5.5 billion, reflecting the mining sector's consolidation amid high prices. Platinum and palladium showed mixed performance, with platinum declining and palladium slightly rising.

Reuters·
HK
02259
+11.78%
SH
600547
-0.66%
SH
601899
+5.44%
Reuters·
HK
02259
+11.78%
SH
600547
-0.66%
SH
601899
+5.44%

China's Zijin Gold to buy Canadian miner Allied Gold for about $4 billion

Jan 26 (Reuters) - China’s Zijin Gold Internationalhas agreed to buy Canadian miner Allied Gold (AAUC.TO) for about C$5.5 billion ($4.02 billion) in cash, the companies said on Monday.Under the deal, Zijin will pay C$44 per share. U.S.-listed shares of Allied were up 5.4% in premarket trading.The companies expect the transaction to close by late April 2026. ($1 = 1.3676 Canadian dollars)

Reuters·
SH
601899
+5.44%
HK
02899
+4.69%
US
AAUC
+3.95%
Reuters·
SH
601899
+5.44%
HK
02899
+4.69%
US
AAUC
+3.95%
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