LYGEND RESOURCE shareholders will transfer stocks from HSBC Hong Kong Shanghai to CITIC Lyon Securities, with a transfer market value of HKD 618 million

According to the latest data from the Hong Kong Stock Exchange, on October 14th, shareholders of LYGEND RESOURCE transferred their shares from HSBC Hong Kong to CITIC Securities, with a transfer market value of HKD 618 million, accounting for 4.09%. Minsheng Securities released a research report stating that LYGEND RESOURCE is collaborating with partners to invest in nickel smelting production lines on Obi Island in Indonesia, with a planned wet nickel production capacity of 120,000 tons of nickel and 14,000 tons of cobalt, and an equity capacity of 69,000 tons of nickel and 8,200 tons of cobalt, all of which will be put into production by 2024; the first phase of the pyrometallurgical project has a capacity of 95,000 tons, which has been put into production in 2023, and some production lines of the second phase project will be put into production in the first half of 2025, with full production expected in 2026, increasing the company's capacity to 280,000 tons and equity capacity to 155,000 tons, with significant capacity flexibility