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<Research>BOCI: ZIJIN GOLD INTL's Acquisition of Allied Gold Expected to Lift Proven and Probable Reserves by 36%
Recommend 11 Positive 12 Negative 6 |
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BOCI's report said that ZIJIN GOLD INTL (02259.HK) had agreed to acquire all issued shares of Allied Gold Corporation at a price of CAD44 per share, with a total consideration of CAD5.5 billion. Allied Gold Corporation holds six mining rights and five exploration rights in Africa. As of the end of 2024, the company's measured and indicated gold resources amount to 488 tonnes, with proven and probable gold reserves of 337 tonnes. It is expected that its gold production in 2025 will reach between 11.7 and 12.4 tonnes. With the expansion of the Sadiola mine and the completion of the Kurmuk mine, its gold production is projected to hit 25 tonnes by 2029. This acquisition will increase ZIJIN GOLD INTL's proven and probable reserves by 36% and its gold production in 2029 by 43%. The acquisition is also expected to create synergies with ZIJIN GOLD INTL's existing mines in Ghana. The broker maintained a Hold rating on ZIJIN GOLD INTL and a Buy rating on ZIJIN MINING (02899.HK). AASTOCKS Financial News Website: www.aastocks.com |
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